In a latest note to investors, a research analyst has provided a rating update for the Hardwoods Distribution Inc (HDI). Today, analyst Yuri Lynk gave a Buy rating to HDI and set a C$17 price target.
According to TipRanks.com, Lynk is a 5-star analyst with an average return of 8.0% and a 54.8% success rate. Lynk covers the Basic Materials sector, focusing on stocks such as Badger Daylighting Ltd, Stantec Inc, and Fluor Corp.
Currently, the analyst consensus on Hardwoods Distribution Inc is a Moderate Buy with an average price target of C$17.
Based on Hardwoods Distribution Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$8.14 million. In comparison, last year the company had a net profit of C$7.31 million.
Hardwoods Distribution, Inc. engages in the sourcing and distribution of architectural grade building products to the residential and commercial construction sectors. Its products include hardwood lumber, decorative surfaces, and composite panels. It operates through the Canada and United States geographical segments.
The company’s shares closed on Wednesday at C$12.37, close to its 52-week low of C$11.98.
