Domtar Corporation (UFS) PT Set at $33.00 by KeyCorp
Domtar Corporation (NYSE:UFS) (TSE:UFS) has been given a $33.00 target price by equities researchers at KeyCorp in a report released on Thursday. The brokerage presently has a “sell” rating on the basic materials company’s stock. KeyCorp’s price target suggests a potential downside of 24.43% from the stock’s previous close.
A number of other equities analysts also recently weighed in on the stock. Citigroup Inc. restated a “sell” rating and set a $40.00 target price (down from $41.00) on shares of Domtar Corporation in a report on Thursday, October 5th. Zacks Investment Research upgraded shares of Domtar Corporation from a “hold” rating to a “strong-buy” rating and set a $51.00 target price on the stock in a report on Thursday, October 5th. ValuEngine upgraded shares of Domtar Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 8th. BidaskClub upgraded shares of Domtar Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, Scotiabank lowered their target price on shares of Domtar Corporation from $40.50 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $42.25.
Shares of Domtar Corporation (NYSE:UFS) traded up 0.74% on Thursday, hitting $43.67. 613,314 shares of the stock traded hands. The firm’s 50 day moving average is $41.93 and its 200 day moving average is $38.88. Domtar Corporation has a 52 week low of $33.99 and a 52 week high of $44.72. The firm has a market capitalization of $2.74 billion, a PE ratio of 16.66 and a beta of 1.49.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last announced its quarterly earnings data on Friday, July 28th. The basic materials company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.08. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.31 billion. Domtar Corporation had a net margin of 3.23% and a return on equity of 6.47%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. On average, analysts expect that Domtar Corporation will post $2.55 EPS for the current fiscal year.
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In other Domtar Corporation news, VP Daniel Buron sold 4,900 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $40.10, for a total value of $196,490.00. Following the transaction, the vice president now directly owns 15,126 shares in the company, valued at $606,552.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Fagan sold 4,154 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $41.40, for a total transaction of $171,975.60. Following the completion of the transaction, the insider now owns 10,649 shares in the company, valued at $440,868.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,766 shares of company stock worth $569,809. Corporate insiders own 1.04% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Domtar Corporation by 1.0% in the second quarter. BlackRock Inc. now owns 10,480,620 shares of the basic materials company’s stock valued at $402,666,000 after purchasing an additional 103,558 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Domtar Corporation by 1.0% in the second quarter. Vanguard Group Inc. now owns 5,342,007 shares of the basic materials company’s stock valued at $205,240,000 after purchasing an additional 53,417 shares during the last quarter. QV Investors Inc. acquired a new position in shares of Domtar Corporation in the second quarter valued at $219,260,000. Fairpointe Capital LLC increased its holdings in shares of Domtar Corporation by 5.6% in the second quarter. Fairpointe Capital LLC now owns 3,870,164 shares of the basic materials company’s stock valued at $148,692,000 after purchasing an additional 205,810 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Domtar Corporation by 0.5% in the second quarter. State Street Corp now owns 1,772,703 shares of the basic materials company’s stock valued at $68,104,000 after purchasing an additional 8,827 shares during the last quarter. Hedge funds and other institutional investors own 91.25% of the company’s stock.
About Domtar Corporation
Domtar Corporation designs, manufactures, markets and distributes a range of fiber-based products, including communication papers, specialty and packaging papers and absorbent hygiene products. The Company segments include Pulp and Paper and Personal Care. The Pulp and Paper segment consists of the design, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.
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