Hardwoods Distribution Inc. (TSE:HDI) Receives C$55.70 Average Target Price from Analysts

Shares of Hardwoods Distribution Inc. (TSE:HDI) have earned a consensus rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have covered the stock in the last year is C$55.70.

A number of equities research analysts have weighed in on the stock. National Bankshares lifted their price target on shares of Hardwoods Distribution from C$57.00 to C$60.50 and gave the company an “outperform” rating in a research report on Tuesday, August 10th. CIBC reiterated a “buy” rating on shares of Hardwoods Distribution in a research report on Thursday, September 30th. Canaccord Genuity lifted their price target on shares of Hardwoods Distribution from C$57.00 to C$62.00 and gave the company a “buy” rating in a research report on Tuesday, August 10th. Cormark lifted their price target on shares of Hardwoods Distribution from C$47.00 to C$53.00 and gave the company a “buy” rating in a research report on Friday, June 25th. Finally, National Bank Financial lifted their price target on shares of Hardwoods Distribution from C$57.00 to C$60.50 and gave the company an “outperform” rating in a research report on Tuesday, August 10th.

Hardwoods Distribution stock opened at C$37.27 on Monday. Hardwoods Distribution has a 12-month low of C$23.10 and a 12-month high of C$40.80. The stock has a market cap of C$793.40 million and a P/E ratio of 11.91. The company has a 50-day moving average price of C$37.49 and a 200 day moving average price of C$34.97. The company has a current ratio of 1.78, a quick ratio of 0.63 and a debt-to-equity ratio of 73.98.

Hardwoods Distribution (TSE:HDI) last announced its quarterly earnings results on Monday, August 9th. The company reported C$1.57 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.60. The company had revenue of C$415.31 million for the quarter, compared to analyst estimates of C$394.96 million. As a group, analysts forecast that Hardwoods Distribution will post 4.4399999 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Friday, October 29th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, October 15th. Hardwoods Distribution’s dividend payout ratio (DPR) is currently 9.17%.

About Hardwoods Distribution

Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets. It offers a range of decorative surfaces, including architectural grade plywood and veneers, hardwood lumber, laminates, acrylics, and composites for use in commercial and residential applications; specialty plywood and composite panel products for residential and commercial cabinet, countertop, store fixture, and RV and furniture industries; and other products comprising moldings, cabinet hardware, doors, millwork, adhesives, solid surface products, and decorative laminates.

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Analyst Recommendations for Hardwoods Distribution (TSE:HDI)

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