Domtar Corporation (NYSE:UFS) (TSE:UFS) had its price objective hoisted by DA Davidson to $37.00 in a report released on Monday morning. DA Davidson currently has an underperform rating on the basic materials company’s stock.
A number of other brokerages also recently weighed in on UFS. KeyCorp set a $33.00 target price on shares of Domtar Corporation and gave the stock a sell rating in a research note on Friday, October 27th. Zacks Investment Research raised shares of Domtar Corporation from a hold rating to a strong-buy rating and set a $51.00 target price for the company in a research note on Thursday, October 5th. Citigroup Inc. reaffirmed a sell rating and issued a $40.00 target price (down from $41.00) on shares of Domtar Corporation in a research note on Thursday, October 5th. Stephens assumed coverage on shares of Domtar Corporation in a research note on Tuesday, October 24th. They issued an equal weight rating and a $43.00 target price for the company. Finally, ValuEngine raised shares of Domtar Corporation from a hold rating to a buy rating in a research note on Friday, September 8th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $43.30.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last announced its earnings results on Friday, October 27th. The basic materials company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.30. Domtar Corporation had a net margin of 3.44% and a return on equity of 6.17%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis.
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In related news, VP Daniel Buron sold 4,900 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $40.10, for a total transaction of $196,490.00. Following the completion of the sale, the vice president now directly owns 15,126 shares of the company’s stock, valued at $606,552.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Fagan sold 4,154 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $41.40, for a total transaction of $171,975.60. Following the sale, the insider now directly owns 10,649 shares of the company’s stock, valued at $440,868.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,766 shares of company stock valued at $569,809. 1.04% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of UFS. BlackRock Inc. raised its stake in shares of Domtar Corporation by 8,753.9% during the first quarter. BlackRock Inc. now owns 10,377,062 shares of the basic materials company’s stock worth $378,971,000 after buying an additional 10,259,859 shares during the last quarter. QV Investors Inc. bought a new stake in shares of Domtar Corporation during the second quarter worth approximately $219,260,000. Pictet Asset Management Ltd. bought a new stake in shares of Domtar Corporation during the third quarter worth approximately $20,535,000. First Eagle Investment Management LLC bought a new stake in shares of Domtar Corporation during the second quarter worth approximately $10,436,000. Finally, Renaissance Technologies LLC raised its stake in shares of Domtar Corporation by 1,243.6% during the first quarter. Renaissance Technologies LLC now owns 280,042 shares of the basic materials company’s stock worth $10,227,000 after buying an additional 259,200 shares during the last quarter. 91.07% of the stock is owned by institutional investors and hedge funds.
Domtar Corporation Company Profile
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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