Resolute Forest Products Inc. (RFP) PT Raised to $7.75

Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) had its target price raised by equities research analysts at Scotiabank from $5.25 to $7.75 in a research report issued to clients and investors on Friday. The firm presently has an “underperform” rating on the basic materials company’s stock. Scotiabank’s price target would suggest a potential downside of 3.73% from the company’s previous close.

RFP has been the topic of a number of other research reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $5.00 target price on shares of Resolute Forest Products in a research report on Tuesday, October 10th. BidaskClub raised shares of Resolute Forest Products from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. CIBC raised shares of Resolute Forest Products from a “sector perform” rating to a “sector outperform” rating in a research report on Friday. Finally, TD Securities raised shares of Resolute Forest Products from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $5.00 to $8.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $7.58.

Shares of Resolute Forest Products (NYSE:RFP) traded up $0.85 during mid-day 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 debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 2.49.

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

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A number of institutional investors and hedge funds have recently bought and sold shares of RFP. Vanguard Group Inc. boosted its stake in Resolute Forest Products by 5.6% during the second quarter. Vanguard Group Inc. now owns 5,216,531 shares of the basic materials company’s stock worth $22,953,000 after buying an additional 274,356 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Resolute Forest Products by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,777,616 shares of the basic materials company’s stock worth $12,221,000 after buying an additional 209,465 shares in the last quarter. ACR Alpine Capital Research LLC boosted its stake in Resolute Forest Products by 2.5% during the second quarter. ACR Alpine Capital Research LLC now owns 5,170,696 shares of the basic materials company’s stock worth $22,751,000 after buying an additional 126,441 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Resolute Forest Products by 29.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 521,226 shares of the basic materials company’s stock worth $2,841,000 after buying an additional 119,102 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in Resolute Forest Products by 2.7% during the second quarter. Great West Life Assurance Co. Can now owns 4,092,509 shares of the basic materials company’s stock worth $17,796,000 after buying an additional 106,967 shares in the last quarter. Hedge funds and other institutional investors 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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