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Resolute Forest Products (NYSE:RFP) Cut to "Hold" at TD Securities

Thursday, June 23, 2022 | MarketBeat

Resolute Forest Products (NYSE:RFP - Get Rating) (TSE:RFP) was downgraded by stock analysts at TD Securities from a "buy" rating to a "hold" rating in a report issued on Thursday, The Fly reports.

Several other research analysts have also recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Resolute Forest Products from $18.00 to $19.00 and gave the company an "outperform" rating in a research report on Friday, May 6th. TheStreet raised shares of Resolute Forest Products from a "c+" rating to a "b-" rating in a research report on Monday, May 9th. Finally, StockNews.com started coverage on shares of Resolute Forest Products in a research report on Thursday, March 31st. They set a "buy" rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.13.

Shares of RFP opened at $13.29 on Thursday. The firm's fifty day moving average is $14.26 and its two-hundred day moving average is $13.70. The company has a quick ratio of 1.27, a current ratio of 2.59 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.02 billion, a PE ratio of 2.47 and a beta of 2.83. Resolute Forest Products has a 52-week low of $9.84 and a 52-week high of $17.11.


Resolute Forest Products (NYSE:RFP - Get Rating) (TSE:RFP) last announced its quarterly earnings results on Thursday, May 5th. The basic materials company reported $2.26 earnings per share for the quarter. The firm had revenue of $945.00 million for the quarter. Resolute Forest Products had a net margin of 11.51% and a return on equity of 37.97%.

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in shares of Resolute Forest Products by 67.8% in the first quarter. Bank of America Corp DE now owns 106,247 shares of the basic materials company's stock valued at $1,371,000 after buying an additional 42,935 shares in the last quarter. Beacon Pointe Advisors LLC raised its holdings in shares of Resolute Forest Products by 279.1% in the 1st quarter. Beacon Pointe Advisors LLC now owns 67,166 shares of the basic materials company's stock valued at $867,000 after buying an additional 49,447 shares during the period. Portolan Capital Management LLC purchased a new stake in shares of Resolute Forest Products in the 1st quarter valued at $6,852,000. Quantbot Technologies LP purchased a new stake in shares of Resolute Forest Products in the 1st quarter valued at $357,000. Finally, Royal Bank of Canada raised its holdings in shares of Resolute Forest Products by 112.2% in the 1st quarter. Royal Bank of Canada now owns 16,667 shares of the basic materials company's stock valued at $216,000 after buying an additional 8,813 shares during the period. Institutional investors own 86.30% of the company's stock.

Resolute Forest Products Company Profile (Get Rating)

Resolute Forest Products Inc, together with its subsidiaries, operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates through four segments: Market Pulp, Tissue, Wood Products, and Paper. The Market Pulp segment offers virgin and recycled bleached Kraft pulp, which is used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.

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