Hardwoods Distribution - HDI Stock Forecast, Price & News

Hardwoods Distribution Inc. engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets. It 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, solid surface products, and decorative laminates. The company also manufactures, imports, and distributes hardwood lumber, millwork, and architectural sheet goods. It serves small-to-mid-sized industrial manufacturers of cabinets, moldings, custom finishing, home furniture, home renovations, finishing millwork for office buildings, restaurant and bar interiors, hotel lobbies, retail point-of-purchase displays, schools, hospitals, custom motor coaches, yacht interiors, and other specialty areas. As of March 11, 2022, the company operated 86 distribution facilities in North America. Hardwoods Distribution Inc. was incorporated in 2012 and is headquartered in Langley, Canada.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Cormark decreased their price objective on Hardwoods Distribution from C$70.00 to C$55.00 in a research report on Monday, May 16th. CIBC decreased their price objective on Hardwoods Distribution from C$50.00 to C$41.00 in a research report on Friday, July 8th. TD Securities decreased their price objective on Hardwoods Distribution from C$73.00 to C$64.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Canaccord Genuity Group increased their price objective on Hardwoods Distribution from C$60.00 to C$63.00 in a research report on Monday, May 16th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Hardwoods Distribution has a consensus rating of "Buy" and a consensus price target of C$61.29.

Hardwoods Distribution Price Performance

Hardwoods Distribution stock traded up C$0.10 during mid-day trading on Friday, hitting C$32.73. 37,617 shares of the company were exchanged, compared to its average volume of 92,168. The company has a debt-to-equity ratio of 196.76, a current ratio of 1.49 and a quick ratio of 0.46. The business's 50 day simple moving average is C$30.23 and its two-hundred day simple moving average is C$35.35. The company has a market capitalization of C$779.58 million and a P/E ratio of 4.26. Hardwoods Distribution has a 12-month low of C$26.92 and a 12-month high of C$49.58.

Hardwoods Distribution (TSE:HDI - Get Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported C$2.37 earnings per share for the quarter, topping the consensus estimate of C$1.54 by C$0.83. The company had revenue of C$816.89 million for the quarter, compared to analysts' expectations of C$712.03 million. Analysts forecast that Hardwoods Distribution will post 6.2700001 earnings per share for the current fiscal year.

Hardwoods Distribution Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 29th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, July 15th. Hardwoods Distribution's dividend payout ratio is currently 6.25%.