TD Securities upgraded shares of Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) from a reduce rating to a hold rating in a research note published on Friday morning. TD Securities currently has $8.00 price target on the basic materials company’s stock, up from their prior price target of $5.00.

A number of other analysts have also weighed in on RFP. CIBC upgraded Resolute Forest Products from a sector perform rating to a sector outperform rating in a research note on Friday. BidaskClub upgraded Resolute Forest Products from a hold rating to a buy rating in a research note on Wednesday, August 23rd. Finally, Royal Bank Of Canada restated a hold rating and issued a $6.00 target price on shares of Resolute Forest Products in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $7.58.

Shares of Resolute Forest Products (NYSE RFP) traded up $2.20 during midday trading on Friday, hitting $8.05. The company’s stock had a trading volume of 739,456 shares, compared to its average volume of 195,592. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 2.49.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last announced its earnings results on Thursday, November 2nd. The basic materials company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.16. Resolute Forest Products had a negative return on equity of 0.30% and a negative net margin of 4.05%. The company had revenue of $885.00 million during the quarter. During the same quarter last year, the business posted $0.17 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year.

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A number of hedge funds have recently made changes to their positions in the stock. Numeric Investors LLC increased its position in Resolute Forest Products by 342.3% in the second quarter. Numeric Investors LLC now owns 63,695 shares of the basic materials company’s stock worth $280,000 after purchasing an additional 49,295 shares during the period. Dimensional Fund Advisors LP increased its position in Resolute Forest Products by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,777,616 shares of the basic materials company’s stock worth $12,221,000 after purchasing an additional 209,465 shares during the period. Vanguard Group Inc. increased its position in Resolute Forest Products by 5.6% in the second quarter. Vanguard Group Inc. now owns 5,216,531 shares of the basic materials company’s stock worth $22,953,000 after purchasing an additional 274,356 shares during the period. GSA Capital Partners LLP increased its position in Resolute Forest Products by 50.2% in the second quarter. GSA Capital Partners LLP now owns 183,124 shares of the basic materials company’s stock worth $806,000 after purchasing an additional 61,164 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in Resolute Forest Products in the second quarter worth about $384,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

About Resolute Forest Products

Resolute Forest Products Inc operates in the forest products industry. It offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. As of December 31, 2016, it owned or operated over 40 pulp, paper, tissue and wood products facilities in the United States and Canada.

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