Resolute Forest Products (NYSE:RFP) Price Target Raised to $19.00

Resolute Forest Products (NYSE:RFPGet Rating) (TSE:RFP) had its price objective increased by Royal Bank of Canada from $18.00 to $19.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the basic materials company’s stock.

Several other research analysts have also issued reports on RFP. CIBC upgraded Resolute Forest Products from a neutral rating to an outperform rating and increased their price objective for the stock from $14.00 to $19.00 in a research note on Monday, January 10th. StockNews.com began coverage on Resolute Forest Products in a research note on Thursday, March 31st. They set a buy rating for the company. Finally, TD Securities increased their price objective on Resolute Forest Products from $16.00 to $17.50 and gave the stock a buy rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $18.13.

Shares of NYSE RFP traded up $0.11 during trading hours on Friday, reaching $14.90. The stock had a trading volume of 703,086 shares, compared to its average volume of 461,124. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.29 and a quick ratio of 1.11. The business’s fifty day moving average is $13.48 and its two-hundred day moving average is $13.11. Resolute Forest Products has a twelve month low of $9.84 and a twelve month high of $17.65. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 2.77 and a beta of 2.83.

Resolute Forest Products (NYSE:RFPGet Rating) (TSE:RFP) last released its quarterly earnings data on Thursday, February 3rd. The basic materials company reported $0.48 earnings per share (EPS) for the quarter. Resolute Forest Products had a return on equity of 37.65% and a net margin of 8.38%. The firm had revenue of $834.00 million during the quarter.

In other Resolute Forest Products news, Director Suzanne Blanchet bought 13,300 shares of the firm’s stock in a transaction dated Wednesday, February 16th. The shares were bought at an average price of $15.01 per share, for a total transaction of $199,633.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Lafave sold 7,600 shares of the stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $13.77, for a total value of $104,652.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of RFP. Point72 Asset Management L.P. acquired a new stake in shares of Resolute Forest Products during the 4th quarter worth approximately $6,840,000. Wasatch Advisors Inc. grew its position in shares of Resolute Forest Products by 17.9% during the 4th quarter. Wasatch Advisors Inc. now owns 2,658,865 shares of the basic materials company’s stock worth $40,601,000 after buying an additional 403,019 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Resolute Forest Products by 119.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 629,039 shares of the basic materials company’s stock worth $7,486,000 after buying an additional 342,742 shares during the period. Two Sigma Advisers LP grew its position in shares of Resolute Forest Products by 50.1% during the 3rd quarter. Two Sigma Advisers LP now owns 882,564 shares of the basic materials company’s stock worth $10,503,000 after buying an additional 294,500 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Resolute Forest Products by 211.8% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 263,200 shares of the basic materials company’s stock worth $3,125,000 after buying an additional 178,800 shares during the period. Institutional investors own 86.30% of the company’s stock.

Resolute Forest Products Company Profile (Get Rating)

Resolute Forest Products Inc, together with its subsidiaries, operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates through four segments: Market Pulp, Tissue, Wood Products, and Paper. The Market Pulp segment offers virgin and recycled bleached Kraft pulp, which is used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.

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