Resolute Forest Products Inc. (RFP) Stock Price Up 3.8%
Resolute Forest Products Inc. (NYSE:RFP)’s share price rose 3.8% on Thursday . The stock traded as high as $6.02 and last traded at $5.96, with a volume of 77,185 shares changing hands. The stock had previously closed at $5.74.
RFP has been the subject of several research reports. Zacks Investment Research upgraded shares of Resolute Forest Products from a “hold” rating to a “strong-buy” rating and set a $6.75 price target for the company in a research report on Thursday, June 2nd. TD Securities restated a “reduce” rating and set a $5.00 price target (up previously from $4.75) on shares of Resolute Forest Products in a research report on Wednesday, August 10th. Finally, Vetr upgraded shares of Resolute Forest Products from a “sell” rating to a “hold” rating and set a $5.88 price target for the company in a research report on Monday, May 2nd. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Resolute Forest Products has an average rating of “Hold” and a consensus target price of $7.03.
The firm has a 50-day moving average price of $5.66 and a 200 day moving average price of $5.38. The firm’s market capitalization is $531.67 million.
Resolute Forest Products (NYSE:RFP) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm earned $891 million during the quarter, compared to analysts’ expectations of $934 million. Equities research analysts expect that Resolute Forest Products Inc. will post $0.07 EPS for the current fiscal year.
In other news, Director Michael S. Rousseau acquired 20,000 shares of Resolute Forest Products stock in a transaction dated Wednesday, June 15th. The stock was purchased at an average cost of $5.18 per share, for a total transaction of $103,600.00. Following the completion of the purchase, the director now directly owns 59,032 shares in the company, valued at approximately $305,785.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
An institutional investor recently raised its position in Resolute Forest Products stock. Schwab Charles Investment Management Inc. boosted its stake in Resolute Forest Products Inc. (NYSE:RFP) by 25.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 281,992 shares of the company’s stock after buying an additional 57,577 shares during the period. Schwab Charles Investment Management Inc. owned 0.32% of Resolute Forest Products worth $2,135,000 as of its most recent SEC filing.
Resolute Forest Products Inc offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. The Company owns or operates over 40 pulp, paper, tissue and wood products facilities in the United States, Canada and South Korea, as well as power generation assets in Canada.
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