National Bank Financial Boosts Hardwoods Distribution (TSE:HDI) Price Target to C$18.50

Hardwoods Distribution (TSE:HDI) had its target price upped by National Bank Financial from C$18.00 to C$18.50 in a research report released on Tuesday, BayStreet.CA reports. National Bank Financial currently has an outperform rating on the stock. National Bank Financial also issued estimates for Hardwoods Distribution’s Q4 2019 earnings at $0.24 EPS, FY2019 earnings at $1.34 EPS and FY2020 earnings at $1.66 EPS.

Separately, CIBC dropped their price objective on Hardwoods Distribution from C$16.00 to C$15.00 in a research note on Friday, July 5th.

TSE HDI opened at C$12.00 on Tuesday. Hardwoods Distribution has a 1-year low of C$10.04 and a 1-year high of C$17.50. The stock has a market cap of $269.99 million and a P/E ratio of 8.63. The company has a 50 day moving average price of C$12.67. The company has a quick ratio of 0.70, a current ratio of 1.94 and a debt-to-equity ratio of 76.74.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 26th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, July 12th. Hardwoods Distribution’s payout ratio is currently 21.94%.

About Hardwoods Distribution

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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