Resolute Forest Products Inc (RFP) Given Average Rating of “Hold” by Brokerages

Shares of Resolute Forest Products Inc (NYSE:RFP) (TSE:RFP) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $8.75.

RFP has been the subject of several recent research reports. Royal Bank of Canada restated a “hold” rating and issued a $5.00 price target on shares of Resolute Forest Products in a research note on Tuesday, October 10th. TheStreet upgraded Resolute Forest Products from a “d+” rating to a “c-” rating in a research report on Wednesday, November 29th. Scotiabank upped their target price on Resolute Forest Products from $5.25 to $7.75 and gave the company an “underperform” rating in a research report on Friday, November 3rd. CIBC upgraded Resolute Forest Products from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, November 3rd. Finally, TD Securities upgraded Resolute Forest Products from a “reduce” rating to a “hold” rating and upped their target price for the company from $5.00 to $8.00 in a research report on Friday, November 3rd.

In other news, SVP Yves Laflamme sold 20,800 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $8.19, for a total transaction of $170,352.00. Following the completion of the sale, the senior vice president now directly owns 114,542 shares in the company, valued at approximately $938,098.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Silvana Travaglini sold 6,355 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $8.80, for a total value of $55,924.00. Following the sale, the vice president now owns 30,342 shares of the company’s stock, valued at $267,009.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,455 shares of company stock valued at $356,632. Corporate insiders own 1.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. bought a new stake in shares of Resolute Forest Products during the 3rd quarter worth $102,000. Brandes Investment Partners LP bought a new stake in shares of Resolute Forest Products during the 3rd quarter worth $144,000. Macquarie Group Ltd. bought a new stake in shares of Resolute Forest Products during the 3rd quarter worth $157,000. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Resolute Forest Products by 1.8% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 38,787 shares of the basic materials company’s stock worth $171,000 after buying an additional 700 shares during the last quarter. Finally, Citadel Advisors LLC lifted its position in shares of Resolute Forest Products by 40.0% during the 3rd quarter. Citadel Advisors LLC now owns 34,598 shares of the basic materials company’s stock worth $175,000 after buying an additional 9,889 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Shares of Resolute Forest Products (RFP) opened at $12.00 on Friday. The stock has a market capitalization of $1,080.00, a price-to-earnings ratio of -7.59 and a beta of 1.47. Resolute Forest Products has a one year low of $4.10 and a one year high of $12.00. The company has a quick ratio of 1.20, a current ratio of 2.44 and a debt-to-equity ratio of 0.51.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last released its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.16. The business had revenue of $885.00 million during the quarter. Resolute Forest Products had a negative return on equity of 0.30% and a negative net margin of 4.05%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share.

ILLEGAL ACTIVITY NOTICE: “Resolute Forest Products Inc (RFP) Given Average Rating of “Hold” by Brokerages” was first reported by American Banking News and is owned by of American Banking News. If you are reading this story on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this story can be read at https://www.americanbankingnews.com/2018/01/20/resolute-forest-products-inc-rfp-given-average-rating-of-hold-by-brokerages-2.html.

About Resolute Forest Products

Resolute Forest Products Inc operates in the forest products industry. It offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. As of December 31, 2016, it owned or operated over 40 pulp, paper, tissue and wood products facilities in the United States and Canada.

Receive News & Ratings for Resolute Forest Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resolute Forest Products and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply