Hardwoods Distribution (TSE:HDI) Price Target Raised to C$17.00 at CIBC

Hardwoods Distribution (TSE:HDI) had its target price hoisted by CIBC from C$15.00 to C$17.00 in a report issued on Wednesday morning, BayStreet.CA reports.

Separately, National Bank Financial raised their target price on Hardwoods Distribution from C$16.00 to C$16.50 and gave the stock an outperform rating in a research note on Wednesday, October 16th.

Shares of TSE:HDI traded down C$0.03 during midday trading on Wednesday, hitting C$14.99. The company had a trading volume of 139,728 shares, compared to its average volume of 39,823. Hardwoods Distribution has a twelve month low of C$10.04 and a twelve month high of C$15.28. The company has a debt-to-equity ratio of 71.61, a current ratio of 2.02 and a quick ratio of 0.77. The stock has a market cap of $277.30 million and a price-to-earnings ratio of 11.44. The business’s 50-day simple moving average is C$12.10 and its 200-day simple moving average is C$12.30.

Hardwoods Distribution (TSE:HDI) last posted its earnings results on Monday, August 12th. The company reported C$0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.42 by C($0.02). The business had revenue of C$304.55 million during the quarter, compared to the consensus estimate of C$306.40 million. As a group, sell-side analysts forecast that Hardwoods Distribution will post 1.65 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 25th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.32 annualized dividend and a yield of 2.13%. Hardwoods Distribution’s dividend payout ratio (DPR) is 23.85%.

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.

Read More: Return on Investment (ROI)

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