Resolute Forest Products Inc. (RFP) Given New $7.00 Price Target at Royal Bank Of Canada

Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) had its price target boosted by Royal Bank Of Canada from $6.00 to $7.00 in a research report report published on Friday. They currently have a sector perform rating on the basic materials company’s stock.

A number of other research analysts also recently issued reports on RFP. TD Securities upgraded shares of Resolute Forest Products from a reduce rating to a hold rating and boosted their target price for the company from $5.00 to $8.00 in a research report on Friday. Scotiabank upped their price objective on shares of Resolute Forest Products from $5.25 to $7.75 and gave the stock an underperform rating in a research report on Friday. CIBC upgraded shares of Resolute Forest Products from a sector perform rating to a sector outperform rating in a research report on Friday. Finally, BidaskClub upgraded shares of Resolute Forest Products from a hold rating to a buy rating in a research report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $7.58.

Resolute Forest Products (NYSE RFP) traded up $2.20 during midday trading on Friday, reaching $8.05. 739,456 shares of the company were exchanged, compared to its average volume of 195,592. The company has a current ratio of 2.49, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52.

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

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Several institutional investors have recently modified their holdings of RFP. Jane Street Group LLC raised its position in shares of Resolute Forest Products by 46.9% in the first quarter. Jane Street Group LLC now owns 18,400 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 5,872 shares during the period. Tudor Investment Corp ET AL raised its position in shares of Resolute Forest Products by 14.9% in the first quarter. Tudor Investment Corp ET AL now owns 22,638 shares of the basic materials company’s stock worth $123,000 after acquiring an additional 2,935 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Resolute Forest Products by 1.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 38,787 shares of the basic materials company’s stock worth $171,000 after acquiring an additional 700 shares during the period. JPMorgan Chase & Co. raised its position in shares of Resolute Forest Products by 100.3% in the second quarter. JPMorgan Chase & Co. now owns 46,424 shares of the basic materials company’s stock worth $204,000 after acquiring an additional 23,247 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in shares of Resolute Forest Products by 15.4% in the second quarter. Wedge Capital Management L L P NC now owns 49,485 shares of the basic materials company’s stock worth $218,000 after acquiring an additional 6,590 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Resolute Forest Products Company Profile

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.

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