Resolute Forest Products Inc (RFP) Given Consensus Rating of “Hold” by Analysts
Shares of Resolute Forest Products Inc (NYSE:RFP) (TSE:RFP) have received a consensus rating of “Hold” from the six research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $8.92.
A number of analysts recently weighed in on RFP shares. Royal Bank of Canada restated a “hold” rating and issued a $6.00 price objective on shares of Resolute Forest Products in a report on Friday, October 20th. CIBC upgraded Resolute Forest Products from a “sector perform” rating to a “sector outperform” rating in a report on Friday, November 3rd. TD Securities upgraded Resolute Forest Products from a “reduce” rating to a “hold” rating and increased their price objective for the company from $5.00 to $8.00 in a report on Friday, November 3rd. Scotiabank increased their price objective on Resolute Forest Products from $5.25 to $7.75 and gave the company an “underperform” rating in a report on Friday, November 3rd. Finally, TheStreet upgraded Resolute Forest Products from a “d+” rating to a “c-” rating in a report on Wednesday, November 29th.
Shares of Resolute Forest Products (RFP) opened at $7.85 on Wednesday. The firm has a market capitalization of $704.92, a price-to-earnings ratio of -8.35 and a beta of 1.47. Resolute Forest Products has a 1-year low of $4.10 and a 1-year high of $12.15. The company has a quick ratio of 1.20, a current ratio of 2.44 and a debt-to-equity ratio of 0.51.
Institutional investors and hedge funds have recently modified their holdings of the business. Hillsdale Investment Management Inc. bought a new stake in Resolute Forest Products during the third quarter valued at $102,000. Brandes Investment Partners LP bought a new stake in Resolute Forest Products during the third quarter valued at $144,000. Macquarie Group Ltd. bought a new stake in Resolute Forest Products during the third quarter valued at $157,000. Citadel Advisors LLC boosted its position in Resolute Forest Products by 40.0% during the third quarter. Citadel Advisors LLC now owns 34,598 shares of the basic materials company’s stock valued at $175,000 after acquiring an additional 9,889 shares during the last quarter. Finally, CAPROCK Group Inc. bought a new stake in Resolute Forest Products during the fourth quarter valued at $182,000. 87.13% of the stock is currently owned by institutional investors and hedge funds.
Resolute Forest Products Company Profile
Resolute Forest Products Inc operates in the forest products industry. It offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. As of December 31, 2016, it owned or operated over 40 pulp, paper, tissue and wood products facilities in the United States and Canada.
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