Hardwoods Distribution (OTCMKTS:HDIUF) Stock Price Down 7.9%

Hardwoods Distribution Inc. (OTCMKTS:HDIUFGet Rating) dropped 7.9% during trading on Tuesday . The company traded as low as $21.84 and last traded at $21.84. Approximately 6,700 shares changed hands during mid-day trading, an increase of 335% from the average daily volume of 1,539 shares. The stock had previously closed at $23.70.

HDIUF has been the topic of a number of research reports. Canaccord Genuity Group increased their price objective on shares of Hardwoods Distribution from C$60.00 to C$63.00 and gave the company a “buy” rating in a research note on Monday, May 16th. Scotiabank started coverage on shares of Hardwoods Distribution in a report on Wednesday, April 6th. They issued an “outperform” rating on the stock. Finally, TD Securities raised their price target on shares of Hardwoods Distribution from C$64.00 to C$73.00 in a report on Monday, May 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $69.10.

The business’s fifty day simple moving average is $25.24 and its 200 day simple moving average is $30.03.

The firm also recently disclosed a dividend, which was paid on Friday, April 29th. Shareholders of record on Tuesday, April 19th were issued a $0.0939 dividend. This represents a yield of 1.37%. The ex-dividend date of this dividend was Monday, April 18th.

About Hardwoods Distribution (OTCMKTS:HDIUF)

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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