TD Securities slashes price target on Resolute Forest Products Inc. [RFP] – find out why.


Resolute Forest Products Inc. [NYSE: RFP] jumped around 7.87 points on Wednesday, while shares priced at $20.36 at the close of the session, up 63.01%. The company report on July 6, 2022 that PAPER EXCELLENCE GROUP ENTERS INTO DEFINITIVE AGREEMENT TO ACQUIRE RESOLUTE FOR $20.50 PER SHARE AND ONE CONTINGENT VALUE RIGHT TIED TO POTENTIAL DUTY DEPOSIT REFUNDS OF UP TO $500 MILLION.

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(All financial information is in U.S. Dollars unless otherwise stated).

Strategic transaction to accelerate Paper Excellence’s growth strategy, bringing complementary capabilities in lumber and pulp.

Resolute Forest Products Inc. stock is now 33.33% up from its year-to-date (YTD) trading value. RFP Stock saw the intraday high of $20.71 and lowest of $20.29 per share. The company’s 52-week high price is 17.11, which means current price is +85.09% above from all time high which was touched on 07/06/22.

Compared to the average trading volume of 1.03M shares, RFP reached a trading volume of 13342559 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Resolute Forest Products Inc. [RFP]?

TD Securities have made an estimate for Resolute Forest Products Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on June 23, 2022. While these analysts kept the previous recommendation, CIBC raised their target price from $14 to $19. The new note on the price target was released on January 10, 2022, representing the official price target for Resolute Forest Products Inc. stock. Previously, the target price had yet another raise to $15, while CIBC analysts kept a Neutral rating on RFP stock.

The Average True Range (ATR) for Resolute Forest Products Inc. is set at 1.55, with the Price to Sales ratio for RFP stock in the period of the last 12 months amounting to 0.37. The Price to Book ratio for the last quarter was 0.90, with the Price to Cash per share for the same quarter was set at 2.40. Price to Free Cash Flow for RFP in the course of the last twelve months was 2.25 with Quick ratio for the last quarter at 1.30.

How has RFP stock performed recently?

Resolute Forest Products Inc. [RFP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 69.53. With this latest performance, RFP shares gained by 43.18% in over the last four-week period, additionally plugging by 39.17% over the last 6 months – not to mention a rise of 77.04% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RFP stock in for the last two-week period is set at 70.52, with the RSI for the last a single of trading hit 75.06, and the three-weeks RSI is set at 67.35 for Resolute Forest Products Inc. [RFP]. The present Moving Average for the last 50 days of trading for this stock 14.21, while it was recorded at 14.48 for the last single week of trading, and 13.25 for the last 200 days.

Resolute Forest Products Inc. [RFP]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Resolute Forest Products Inc. [RFP] shares currently have an operating margin of +19.87 and a Gross Margin at +33.90. Resolute Forest Products Inc.’s Net Margin is presently recorded at +8.38.

Return on Equity for this stock inclined to 23.66, with Return on Assets sitting at 8.45.

Resolute Forest Products Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 2.60.

Insider trade positions for Resolute Forest Products Inc. [RFP]

There are presently around $842 million, or 91.30% of RFP stock, in the hands of institutional investors. The top three institutional holders of RFP stocks are: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN with ownership of 30,548,190, which is approximately 0% of the company’s market cap and around 1.50% of the total institutional ownership; DIMENSIONAL FUND ADVISORS LP, holding 4,674,292 shares of the stock with an approximate value of $58.38 million in RFP stocks shares; and CHOU ASSOCIATES MANAGEMENT INC., currently with $38.67 million in RFP stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Resolute Forest Products Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 75 institutional holders increased their position in Resolute Forest Products Inc. [NYSE:RFP] by around 4,495,257 shares. Additionally, 54 investors decreased positions by around 3,466,880 shares, while 23 investors held positions by with 59,453,298 shares. The mentioned changes placed institutional holdings at 67,415,435 shares, according to the latest SEC report filing. RFP stock had 26 new institutional investments in for a total of 2,056,219 shares, while 15 institutional investors sold positions of 435,778 shares during the same period.