In a report released yesterday, Paul Quinn from RBC Capital maintained a Buy rating on Resolute Forest (RFP), with a price target of C$11.00. The company’s shares closed last Monday at $8.29, close to its 52-week high of $9.00.
According to TipRanks.com, Quinn is a 5-star analyst with an average return of 24.7% and a 73.2% success rate. Quinn covers the Basic Materials sector, focusing on stocks such as Rayonier Advanced Materials, International Paper Co, and West Fraser Timber Co.
Currently, the analyst consensus on Resolute Forest is a Moderate Buy with an average price target of $9.71, implying a 22.1% upside from current levels. In a report issued on February 4, CIBC also maintained a Buy rating on the stock with a $11.00 price target.
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Resolute Forest’s market cap is currently $644.1M and has a P/E ratio of 87.80. The company has a Price to Book ratio of 0.65.
Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RFP in relation to earlier this year.
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Resolute Forest Products, Inc. provides forest products. It owns and operates pulp & paper mills, and wood products facilities located in the United States, Canada and South Korea. The company operates its business through the following segments: Newsprint, Specialty Papers, Tissue, Market Pulp and Wood Products. It also produces lumber and other wood products for the residential-construction and home-renovation markets, as well as for specialized structural and industrial applications. Resolute Forest Products was founded on January 25, 2007 and is headquartered in Montreal, Canada.
