Resolute Forest Products Inc. (RFP) Stock Price Up 1.5%
Resolute Forest Products Inc. (NYSE:RFP)’s share price rose 1.5% on Tuesday . The stock traded as high as $6.04 and last traded at $5.99, with a volume of 187,442 shares changing hands. The stock had previously closed at $5.90.
RFP has been the topic of several research reports. Zacks Investment Research upgraded shares of Resolute Forest Products from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a report on Wednesday, July 13th. Vetr upgraded shares of Resolute Forest Products from a “sell” rating to a “hold” rating and set a $5.88 price objective on the stock in a report on Monday, May 2nd. TD Securities reiterated a “reduce” rating and set a $5.00 price objective (up previously from $4.75) on shares of Resolute Forest Products in a report on Wednesday, August 10th. Royal Bank Of Canada lowered shares of Resolute Forest Products from an “outperform” rating to a “sector perform” rating and set a $7.00 price objective on the stock. in a report on Monday, April 25th. Finally, CIBC lowered shares of Resolute Forest Products from a “sector perform” rating to a “sector underperform” rating in a report on Friday, April 22nd. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.03.
The firm’s market capitalization is $531.67 million. The company has a 50 day moving average of $5.50 and a 200-day moving average of $5.34.
Resolute Forest Products (NYSE:RFP) last released its earnings results on Thursday, August 4th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. During the same period in the prior year, the business posted $0.07 EPS. The business had revenue of $891 million for the quarter, compared to the consensus estimate of $934 million. On average, analysts anticipate that Resolute Forest Products Inc. will post $0.07 EPS for the current year.
In other news, Director Michael S. Rousseau purchased 20,000 shares of the business’s stock in a transaction on Wednesday, June 15th. The shares were acquired at an average price of $5.18 per share, with a total value 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 legal filing with the SEC, which is available at the SEC website.
An institutional investor recently raised its position in Resolute Forest Products stock. California Public Employees Retirement System boosted its position in Resolute Forest Products Inc. (NYSE:RFP) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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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