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Hardwoods Distribution Inc. (TSE:HDI) Receives Average Rating of “Buy” from Brokerages

Hardwoods Distribution Inc. (TSE:HDI) has earned a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$61.17.

A number of research firms have recently commented on HDI. National Bankshares boosted their price target on Hardwoods Distribution from C$67.50 to C$75.50 and gave the stock an “outperform” rating in a report on Tuesday, December 7th. Canaccord Genuity boosted their price target on Hardwoods Distribution from C$62.00 to C$66.00 in a report on Thursday, October 21st. CIBC boosted their price target on Hardwoods Distribution from C$51.00 to C$59.00 and gave the stock an “outperform” rating in a report on Tuesday, November 9th. Finally, Cormark lowered their price target on Hardwoods Distribution from C$65.00 to C$63.50 in a report on Thursday, December 9th.

HDI traded up C$0.28 during trading on Friday, hitting C$43.68. The stock had a trading volume of 22,427 shares, compared to its average volume of 59,942. The company has a 50 day moving average price of C$42.03 and a 200-day moving average price of C$37.89. The firm has a market cap of C$1.03 billion and a price-to-earnings ratio of 9.38. Hardwoods Distribution has a one year low of C$24.35 and a one year high of C$49.34. The company has a debt-to-equity ratio of 202.12, a current ratio of 2.22 and a quick ratio of 0.66.

Hardwoods Distribution (TSE:HDI) last announced its quarterly earnings data on Monday, November 8th. The company reported C$1.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.71 by C($0.03). The business had revenue of C$471.67 million during the quarter, compared to analysts’ expectations of C$568.61 million. As a group, sell-side analysts predict that Hardwoods Distribution will post 5.3200001 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Friday, October 29th. Investors of record on Friday, October 29th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Friday, October 15th. Hardwoods Distribution’s dividend payout ratio (DPR) is currently 6.52%.

Hardwoods Distribution Company Profile

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.

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Analyst Recommendations for Hardwoods Distribution (TSE:HDI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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