Resolute Forest Products (NYSE:RFP) Shares Up 7.3%

Resolute Forest Products (NYSE:RFP) (TSE:RFP) shares were up 7.3% on Wednesday . The stock traded as high as $5.16 and last traded at $5.12, 347,500 shares were traded during trading. A decline of 11% from the average session volume of 388,797 shares. The stock had previously closed at $4.77.

A number of equities analysts recently issued reports on RFP shares. TD Securities decreased their target price on Resolute Forest Products from $7.50 to $7.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. CIBC raised Resolute Forest Products from a “neutral” rating to an “outperform” rating and set a $9.00 target price for the company in a report on Tuesday, June 18th. TheStreet lowered Resolute Forest Products from a “b-” rating to a “c+” rating in a research report on Wednesday, June 12th. Scotiabank set a $9.00 price target on Resolute Forest Products and gave the stock a “hold” rating in a research note on Friday, August 30th. Finally, ValuEngine downgraded Resolute Forest Products from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Resolute Forest Products currently has an average rating of “Hold” and a consensus target price of $9.75.

The stock’s fifty day moving average price is $4.95 and its 200-day moving average price is $6.67. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.78 and a quick ratio of 1.40. The firm has a market cap of $423.25 million, a price-to-earnings ratio of 3.14 and a beta of 1.39.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.10). Resolute Forest Products had a return on equity of 8.64% and a net margin of 6.37%. The firm had revenue of $755.00 million during the quarter. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was down 22.6% on a year-over-year basis.

In other news, Director Randall C. Benson bought 15,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $5.06 per share, with a total value of $75,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Aperio Group LLC grew its position in Resolute Forest Products by 339.2% during the second quarter. Aperio Group LLC now owns 108,173 shares of the basic materials company’s stock valued at $779,000 after purchasing an additional 83,542 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Resolute Forest Products by 22.5% during the 2nd quarter. GSA Capital Partners LLP now owns 53,166 shares of the basic materials company’s stock valued at $383,000 after buying an additional 9,769 shares during the period. LSV Asset Management boosted its stake in shares of Resolute Forest Products by 1.9% during the 2nd quarter. LSV Asset Management now owns 1,317,980 shares of the basic materials company’s stock valued at $9,489,000 after buying an additional 24,900 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Resolute Forest Products by 4.3% during the 2nd quarter. Acadian Asset Management LLC now owns 2,653,000 shares of the basic materials company’s stock valued at $19,103,000 after acquiring an additional 109,232 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Resolute Forest Products by 14.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 766,345 shares of the basic materials company’s stock valued at $5,518,000 after acquiring an additional 96,815 shares in the last quarter. Institutional investors own 92.23% of the company’s stock.

Resolute Forest Products Company Profile (NYSE:RFP)

Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates through five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers virgin and recycled bleached Kraft used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.

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