Scotiabank upgraded shares of Resolute Forest Products Common Stock (NYSE:RFP) (TSE:RFP) from an underperform rating to a sector perform rating in a report published on Wednesday.

A number of other analysts also recently weighed in on the stock. ValuEngine upgraded shares of Resolute Forest Products Common Stock from a hold rating to a buy rating in a research report on Friday, May 4th. Sidoti began coverage on shares of Resolute Forest Products Common Stock in a research report on Tuesday, April 10th. They issued a buy rating and a $12.00 price target on the stock. TD Securities cut their price target on shares of Resolute Forest Products Common Stock from $11.50 to $9.50 and set a hold rating on the stock in a research report on Friday, February 2nd. Finally, Royal Bank of Canada cut their price target on shares of Resolute Forest Products Common Stock from $10.00 to $9.00 and set a sector perform rating on the stock in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $10.06.

Shares of NYSE:RFP opened at $10.45 on Wednesday. The company has a market capitalization of $944.94 million, a P/E ratio of 16.33 and a beta of 1.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.14 and a current ratio of 2.43. Resolute Forest Products Common Stock has a fifty-two week low of $4.10 and a fifty-two week high of $12.15.

Resolute Forest Products Common Stock (NYSE:RFP) (TSE:RFP) last announced its quarterly earnings results on Thursday, May 3rd. The basic materials company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.19). The firm had revenue of $874.00 million during the quarter, compared to analyst estimates of $913.80 million. Resolute Forest Products Common Stock had a negative net margin of 0.77% and a positive return on equity of 3.66%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.33) earnings per share.

In related news, Director Randall C. Benson bought 4,800 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were purchased at an average cost of $10.43 per share, for a total transaction of $50,064.00. Following the acquisition, the director now owns 8,134 shares of the company’s stock, valued at approximately $84,837.62. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. ACR Alpine Capital Research LLC raised its holdings in Resolute Forest Products Common Stock by 1.0% during the 4th quarter. ACR Alpine Capital Research LLC now owns 5,198,798 shares of the basic materials company’s stock worth $57,447,000 after buying an additional 52,742 shares during the period. Great West Life Assurance Co. Can raised its holdings in Resolute Forest Products Common Stock by 2.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,408,274 shares of the basic materials company’s stock worth $36,462,000 after buying an additional 99,854 shares during the period. Dimensional Fund Advisors LP raised its holdings in Resolute Forest Products Common Stock by 13.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,623,302 shares of the basic materials company’s stock worth $30,073,000 after buying an additional 434,081 shares during the period. BlackRock Inc. raised its holdings in Resolute Forest Products Common Stock by 5.8% during the 4th quarter. BlackRock Inc. now owns 1,576,067 shares of the basic materials company’s stock worth $17,416,000 after buying an additional 86,360 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Resolute Forest Products Common Stock by 105.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,278,000 shares of the basic materials company’s stock worth $14,122,000 after buying an additional 654,700 shares during the period. Hedge funds and other institutional investors own 88.83% of the company’s stock.

Resolute Forest Products Common Stock Company Profile

Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates in five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers market, recycled bleached Kraft, and bleached hardwood Kraft pulp used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.

Analyst Recommendations for Resolute Forest Products Common Stock (NYSE:RFP)

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