Cormark Increases Hardwoods Distribution (TSE:HDI) Price Target to C$41.50

Hardwoods Distribution (TSE:HDIGet Rating) had its price objective lifted by equities researchers at Cormark from C$38.00 to C$41.50 in a note issued to investors on Thursday, MarketBeat.com reports. Cormark’s price target points to a potential upside of 53.99% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Hardwoods Distribution from C$52.00 to C$49.00 in a research report on Thursday. Scotiabank dropped their target price on shares of Hardwoods Distribution from C$69.00 to C$53.00 in a report on Wednesday. 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. Canaccord Genuity Group dropped their price objective on shares of Hardwoods Distribution from C$59.00 to C$37.00 in a report on Friday, October 7th. Finally, TD Securities dropped their price objective on shares of Hardwoods Distribution from C$64.00 to C$54.00 and set a “buy” rating for the company in a report on Monday, November 7th.

Hardwoods Distribution Stock Up 0.9 %

TSE HDI opened at C$26.95 on Thursday. The company has a debt-to-equity ratio of 182.44, a current ratio of 1.58 and a quick ratio of 0.46. The business’s 50-day moving average is C$25.87 and its 200 day moving average is C$29.25. The stock has a market capitalization of C$629.44 million and a PE ratio of 2.99. Hardwoods Distribution has a 1 year low of C$22.66 and a 1 year high of C$49.58.

Hardwoods Distribution (TSE:HDIGet Rating) last issued its quarterly earnings results on Thursday, August 11th. The company reported C$2.31 EPS for the quarter, missing analysts’ consensus estimates of C$2.54 by C($0.23). The firm had revenue of C$893.79 million during the quarter, compared to analysts’ expectations of C$816.41 million. Sell-side analysts forecast that Hardwoods Distribution will post 4.54 earnings per share for the current year.

Hardwoods Distribution Company Profile

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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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