Hardwoods Distribution (TSE:HDI) PT Lowered to C$54.00

Hardwoods Distribution (TSE:HDIGet Rating) had its price target decreased by equities researchers at TD Securities from C$64.00 to C$54.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 104.16% from the company’s previous close.

A number of other analysts also recently commented on the stock. Cormark dropped their target price on shares of Hardwoods Distribution from C$55.00 to C$38.00 in a report on Tuesday, October 11th. Canaccord Genuity Group dropped their target price on shares of Hardwoods Distribution from C$59.00 to C$37.00 in a report on Friday, October 7th. Finally, CIBC dropped their target price on shares of Hardwoods Distribution from C$46.00 to C$37.00 in a report on Friday, October 14th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$49.10.

Hardwoods Distribution Trading Up 2.8 %

Shares of TSE:HDI opened at C$26.45 on Monday. The company has a 50 day moving average of C$26.01 and a 200-day moving average of C$29.35. The firm has a market cap of C$617.77 million and a P/E ratio of 2.95. Hardwoods Distribution has a twelve month low of C$22.66 and a twelve month high of C$49.58. The company has a current ratio of 1.58, a quick ratio of 0.46 and a debt-to-equity ratio of 182.44.

Hardwoods Distribution (TSE:HDIGet Rating) last issued its quarterly earnings results on Thursday, August 11th. The company reported C$2.31 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.54 by C($0.23). The firm had revenue of C$893.79 million for the quarter, compared to the consensus estimate of C$816.41 million. As a group, analysts anticipate that Hardwoods Distribution will post 5.0400001 earnings per share for the current fiscal year.

About Hardwoods Distribution

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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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Analyst Recommendations for Hardwoods Distribution (TSE:HDI)

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