Analysts Set Hardwoods Distribution Inc. (TSE:HDI) Target Price at C$62.57

Hardwoods Distribution Inc. (TSE:HDI – Get Rating) has received an average rating of “Buy” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is C$62.57.

HDI has been the subject of a number of recent analyst reports. National Bankshares lifted their target price on shares of Hardwoods Distribution from C$79.00 to C$79.50 and gave the stock an “outperform” rating in a research note on Tuesday, March 15th. Canaccord Genuity Group lifted their target price on shares of Hardwoods Distribution from C$74.00 to C$76.00 and gave the stock a “buy” rating in a research note on Wednesday, February 2nd. Finally, CIBC lowered their target price on shares of Hardwoods Distribution from C$61.00 to C$50.00 in a research note on Thursday, April 21st.

TSE:HDI opened at C$32.50 on Friday. Hardwoods Distribution has a fifty-two week low of C$28.18 and a fifty-two week high of C$49.58. The stock has a market capitalization of C$770.22 million and a P/E ratio of 5.32. The company has a debt-to-equity ratio of 135.96, a quick ratio of 0.59 and a current ratio of 2.29. The company’s 50-day simple moving average is C$37.75 and its 200-day simple moving average is C$41.00.

Hardwoods Distribution (TSE:HDI – Get Rating) last released its quarterly earnings results on Monday, March 14th. The company reported C$1.97 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.71 by C$0.26. The firm had revenue of C$649.73 million during the quarter, compared to the consensus estimate of C$604.14 million. On average, research analysts forecast that Hardwoods Distribution will post 6.0199998 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Friday, April 29th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Monday, April 18th. Hardwoods Distribution’s dividend payout ratio is presently 5.25%.

About Hardwoods Distribution (Get Rating)

Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets. It offers a range of decorative surfaces, including architectural grade plywood and veneers, hardwood lumber, laminates, acrylics, and composites for use in commercial and residential applications; specialty plywood and composite panel products for residential and commercial cabinet, countertop, store fixture, and RV and furniture industries; and other products comprising moldings, cabinet hardware, doors, millwork, adhesives, solid surface products, and decorative laminates.

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