Resolute Forest Products Inc. (RFP) Sees Large Volume Increase
Resolute Forest Products Inc. (NYSE:RFP) saw unusually-strong trading volume on Monday . Approximately 306,995 shares traded hands during trading, an increase of 79% from the previous session’s volume of 171,323 shares.The stock last traded at $4.91 and had previously closed at $4.82.
Several research analysts have recently commented on RFP shares. Zacks Investment Research upgraded Resolute Forest Products from a “hold” rating to a “strong-buy” rating and set a $6.75 price target for the company in a research report on Thursday, June 2nd. TD Securities restated a “reduce” rating and set a $5.00 price target (up from $4.75) on shares of Resolute Forest Products in a research report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $7.03.
The stock’s 50 day moving average is $5.64 and its 200 day moving average is $5.53. The company’s market cap is $436.79 million.
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, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. Resolute Forest Products had a negative return on equity of 1.22% and a negative net margin of 7.57%. The firm earned $891 million during the quarter, compared to the consensus estimate of $934 million. During the same period in the previous year, the firm posted $0.07 EPS. On average, equities analysts anticipate that Resolute Forest Products Inc. will post $0.04 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Resolute Forest Products by 68.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,599 shares of the company’s stock valued at $102,000 after buying an additional 7,559 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of Resolute Forest Products during the second quarter valued at $102,000. Citigroup Inc. increased its position in shares of Resolute Forest Products by 3.0% in the second quarter. Citigroup Inc. now owns 20,225 shares of the company’s stock valued at $107,000 after buying an additional 580 shares during the period. Mackenzie Financial Corp increased its position in shares of Resolute Forest Products by 5.2% in the second quarter. Mackenzie Financial Corp now owns 21,394 shares of the company’s stock valued at $113,000 after buying an additional 1,049 shares during the period. Finally, A.R.T. Advisors LLC acquired a new position in shares of Resolute Forest Products during the second quarter valued at $128,000. Hedge funds and other institutional investors own 92.86% of the company’s stock.
Resolute Forest Products Company Profile
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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