Hardwoods Distribution (TSE:HDI) PT Raised to C$63.00 at Canaccord Genuity Group

Hardwoods Distribution (TSE:HDI – Get Rating) had its price target raised by Canaccord Genuity Group from C$60.00 to C$63.00 in a research note released on Monday morning, BayStreet.CA reports.

Other research analysts have also issued reports about the company. Cormark lowered their target price on Hardwoods Distribution from C$70.00 to C$55.00 in a research report on Monday. CIBC reduced their target price on Hardwoods Distribution from C$61.00 to C$50.00 in a report on Thursday, April 21st. Finally, National Bankshares raised their price target on shares of Hardwoods Distribution from C$79.00 to C$79.50 and gave the stock an outperform rating in a report on Tuesday, March 15th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of C$63.86.

Shares of HDI stock opened at C$32.61 on Monday. The firm has a market capitalization of C$776.70 million and a price-to-earnings ratio of 5.25. The company has a current ratio of 2.29, a quick ratio of 0.59 and a debt-to-equity ratio of 135.96. The business’s 50-day moving average price is C$35.30 and its 200-day moving average price is C$40.49. Hardwoods Distribution has a 12 month low of C$28.18 and a 12 month high of C$49.58.

Hardwoods Distribution (TSE:HDI – Get Rating) last posted its earnings results on Monday, March 14th. The company reported C$1.97 EPS for the quarter, topping the consensus estimate of C$1.71 by C$0.26. The business had revenue of C$649.73 million for the quarter, compared to analyst estimates of C$604.14 million. On average, sell-side analysts predict that Hardwoods Distribution will post 6.2699995 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Friday, April 29th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, April 18th. Hardwoods Distribution’s dividend payout ratio (DPR) is currently 5.41%.

Hardwoods Distribution Company Profile (Get Rating)

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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