Resolute Forest Products Target of Unusually Large Options Trading (RFP)

Resolute Forest Products (NYSE:RFP) (TSE:RFP) was the target of unusually large options trading on Thursday. Stock investors bought 2,474 call options on the stock. This is an increase of approximately 4,166% compared to the average daily volume of 58 call options.

Several brokerages have recently commented on RFP. TD Securities raised their target price on Resolute Forest Products from $12.00 to $14.50 and gave the stock a “hold” rating in a research report on Friday, August 3rd. CIBC raised Resolute Forest Products from a “neutral” rating to a “sector outperform” rating in a research report on Wednesday, July 11th. TheStreet raised Resolute Forest Products from a “c” rating to a “b-” rating in a research report on Friday, August 3rd. Royal Bank of Canada lifted their price objective on Resolute Forest Products from $10.00 to $12.00 and gave the company a “sector perform” rating in a research report on Friday, August 3rd. Finally, Scotiabank reissued a “hold” rating and set a $12.00 price objective on shares of Resolute Forest Products in a research report on Friday, August 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Resolute Forest Products has an average rating of “Hold” and a consensus target price of $12.63.

RFP opened at $11.29 on Friday. The firm has a market cap of $1.07 billion, a P/E ratio of 8.56 and a beta of 1.46. Resolute Forest Products has a 1 year low of $5.66 and a 1 year high of $15.75. The company has a quick ratio of 1.28, a current ratio of 2.52 and a debt-to-equity ratio of 0.40.



Resolute Forest Products (NYSE:RFP) (TSE:RFP) last released its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The firm had revenue of $976.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. Resolute Forest Products had a return on equity of 7.83% and a net margin of 3.28%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) earnings per share.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RFP. Verition Fund Management LLC acquired a new stake in Resolute Forest Products during the first quarter valued at $108,000. Paloma Partners Management Co bought a new position in Resolute Forest Products during the second quarter valued at about $130,000. CAPROCK Group Inc. bought a new position in Resolute Forest Products during the second quarter valued at about $137,000. Ramsey Quantitative Systems bought a new position in Resolute Forest Products during the third quarter valued at about $182,000. Finally, Cubist Systematic Strategies LLC raised its holdings in Resolute Forest Products by 40.8% during the second quarter. Cubist Systematic Strategies LLC now owns 19,446 shares of the basic materials company’s stock valued at $201,000 after buying an additional 5,634 shares in the last quarter. 91.02% of the stock is owned by hedge funds and other institutional investors.

Resolute Forest Products Company Profile

Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates in five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers market, recycled bleached Kraft, and bleached hardwood Kraft pulp used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.

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