Resolute Forest Products Inc. (RFP) Trading 3.8% Higher
Resolute Forest Products Inc. (NYSE:RFP) shares traded up 3.8% during mid-day trading on Thursday . The company 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.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Resolute Forest Products from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Wednesday, July 13th. Vetr raised shares of Resolute Forest Products from a “sell” rating to a “hold” rating and set a $5.88 price target on the stock in a research note on Monday, May 2nd. Finally, TD Securities reaffirmed a “reduce” rating and issued a $5.00 price target (up previously from $4.75) on shares of Resolute Forest Products in a research note on Wednesday, August 10th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Resolute Forest Products presently has an average rating of “Hold” and an average price target of $7.03.
The firm’s market cap is $520.93 million. The company has a 50 day moving average price of $5.67 and a 200 day moving average price of $5.40.
Resolute Forest Products (NYSE:RFP) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. During the same quarter last year, the business earned $0.07 EPS. The business earned $891 million during the quarter, compared to the consensus estimate of $934 million. On average, equities research analysts forecast that Resolute Forest Products Inc. will post $0.07 EPS for the current year.
In other Resolute Forest Products news, Director Michael S. Rousseau acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The stock was acquired at an average price of $5.18 per share, for a total transaction of $103,600.00. Following the acquisition, the director now directly owns 59,032 shares in the company, valued at $305,785.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
An institutional investor recently raised its position in Resolute Forest Products stock. California Public Employees Retirement System increased its stake in Resolute Forest Products Inc. (NYSE:RFP) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 364,200 shares of the company’s stock after buying an additional 4,100 shares during the period. California Public Employees Retirement System owned 0.41% of Resolute Forest Products worth $2,757,000 at the end of the most recent quarter.
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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