Hardwoods Distribution (TSE:HDI) PT Lowered to C$49.00

Hardwoods Distribution (TSE:HDIGet Rating) had its target price decreased by investment analysts at Stifel Nicolaus from C$52.00 to C$49.00 in a report released on Thursday, BayStreet.CA reports. Stifel Nicolaus’ price target indicates a potential upside of 81.82% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Cormark reduced their price target 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 Hardwoods Distribution from C$59.00 to C$37.00 in a report on Friday, October 7th. Scotiabank lowered their price target on Hardwoods Distribution from C$69.00 to C$53.00 in a research note on Wednesday. TD Securities decreased their target price on Hardwoods Distribution from C$64.00 to C$54.00 and set a “buy” rating for the company in a research report on Monday, November 7th. Finally, CIBC reduced their price objective on Hardwoods Distribution from C$46.00 to C$37.00 in a research report on Friday, October 14th.

Hardwoods Distribution Trading Up 0.9 %

Shares of HDI stock opened at C$26.95 on Thursday. The stock has a market cap of C$629.44 million and a price-to-earnings ratio of 2.99. The company has a quick ratio of 0.46, a current ratio of 1.58 and a debt-to-equity ratio of 182.44. Hardwoods Distribution has a fifty-two week low of C$22.66 and a fifty-two week high of C$49.58. The firm’s 50 day moving average price is C$25.87 and its two-hundred day moving average price is C$29.25.

Hardwoods Distribution (TSE:HDIGet Rating) last announced 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 business had revenue of C$893.79 million for the quarter, compared to analysts’ expectations of C$816.41 million. On average, analysts anticipate that Hardwoods Distribution will post 4.54 EPS for the current 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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