Hardwoods Distribution (TSE:HDI) Price Target Cut to C$16.00 by Analysts at National Bank Financial

Hardwoods Distribution (TSE:HDI) had its price target reduced by stock analysts at National Bank Financial from C$18.50 to C$16.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price objective would indicate a potential upside of 44.27% from the company’s previous close.

Separately, CIBC decreased their price target on shares of Hardwoods Distribution from C$16.00 to C$15.00 in a research note on Friday, July 5th.

Shares of TSE:HDI traded down C$0.06 during midday trading on Wednesday, hitting C$11.09. 13,130 shares of the stock traded hands, compared to its average volume of 38,272. The stock has a market capitalization of $237.38 million and a PE ratio of 8.47. The business’s 50 day moving average is C$11.68 and its two-hundred day moving average is C$12.36. The company has a quick ratio of 0.77, a current ratio of 2.02 and a debt-to-equity ratio of 71.61. Hardwoods Distribution has a one year low of C$10.04 and a one year high of C$15.92.

Hardwoods Distribution (TSE:HDI) last released its quarterly earnings results on Monday, August 12th. The company reported C$0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.42 by C($0.02). The company had revenue of C$304.55 million for the quarter, compared to the consensus estimate of C$306.40 million. As a group, sell-side analysts forecast that Hardwoods Distribution will post 1.51 earnings per share for the current year.

Hardwoods Distribution Company Profile

Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential and commercial construction sectors in Canada and the United States. The company 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, and solid surfaces.

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