Resolute Forest Products Inc. (RFP) Trading Up 1.5%
Resolute Forest Products Inc. (NYSE:RFP)’s share price was up 1.5% during trading 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 raised Resolute Forest Products from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a report on Wednesday, July 13th. Vetr raised Resolute Forest Products from a “sell” rating to a “hold” rating and set a $5.88 target price on the stock in a report on Monday, May 2nd. TD Securities reaffirmed a “reduce” rating and issued a $5.00 target price (up from $4.75) on shares of Resolute Forest Products in a report on Wednesday, August 10th. Royal Bank Of Canada cut Resolute Forest Products from an “outperform” rating to a “sector perform” rating and set a $7.00 target price on the stock. in a report on Monday, April 25th. Finally, CIBC cut Resolute Forest Products from a “sector perform” rating to a “sector underperform” rating in a report on Friday, April 22nd. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $7.03.
The firm has a 50 day moving average of $5.56 and a 200 day moving average of $5.35. The company’s market cap is $537.04 million.
Resolute Forest Products (NYSE:RFP) last posted its earnings results 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. The firm had revenue of $891 million for the quarter, compared to analysts’ expectations of $934 million. During the same period in the previous year, the company earned $0.07 earnings per share. Equities analysts predict that Resolute Forest Products Inc. will post $0.07 EPS for the current fiscal year.
In related news, Director Michael S. Rousseau purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were purchased at an average cost of $5.18 per share, with a total value of $103,600.00. Following the purchase, the director now owns 59,032 shares of the company’s stock, valued at approximately $305,785.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A hedge fund recently raised its stake in Resolute Forest Products stock. California Public Employees Retirement System increased its stake in shares of 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 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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