Hardwoods Distribution (TSE:HDI) Price Target Increased to C$18.00 by Analysts at National Bank Financial

Hardwoods Distribution (TSE:HDI) had its price objective boosted by National Bank Financial from C$16.50 to C$18.00 in a report released on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock. National Bank Financial also issued estimates for Hardwoods Distribution’s Q4 2019 earnings at $0.29 EPS, FY2019 earnings at $1.42 EPS, FY2020 earnings at $1.68 EPS and FY2021 earnings at $1.82 EPS.

Other research analysts also recently issued research reports about the company. Canaccord Genuity upped their price objective on Hardwoods Distribution from C$15.00 to C$18.00 in a report on Wednesday. CIBC raised their price objective on shares of Hardwoods Distribution from C$15.00 to C$17.00 in a research report on Wednesday.

Shares of TSE HDI traded up C$0.32 during trading hours on Wednesday, hitting C$15.31. 100,200 shares of the company’s stock were exchanged, compared to its average volume of 39,682. Hardwoods Distribution has a 1-year low of C$10.04 and a 1-year high of C$15.49. The company has a debt-to-equity ratio of 71.61, a current ratio of 2.02 and a quick ratio of 0.77. The stock has a market capitalization of $277.30 million and a price-to-earnings ratio of 11.69. The company’s 50-day moving average price is C$12.17 and its 200-day moving average price is C$12.31.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 20th will be given a dividend of $0.085 per share. This is an increase from Hardwoods Distribution’s previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, January 17th. Hardwoods Distribution’s dividend payout ratio is currently 23.85%.

Hardwoods Distribution Company Profile

Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential and commercial construction sectors in Canada and the United States. The company 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, and solid surfaces.

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