Cormark Trims Hardwoods Distribution (TSE:HDI) Target Price to C$12.50

Hardwoods Distribution (TSE:HDI) had its target price lowered by Cormark from C$17.50 to C$12.50 in a research note issued to investors on Monday morning, BayStreet.CA reports. Cormark also issued estimates for Hardwoods Distribution’s Q1 2020 earnings at $0.30 EPS, Q2 2020 earnings at $0.19 EPS, Q3 2020 earnings at $0.22 EPS, Q4 2020 earnings at $0.29 EPS, FY2020 earnings at $0.99 EPS and FY2021 earnings at $1.25 EPS.

Other analysts also recently issued research reports about the stock. National Bank Financial upped their price target on shares of Hardwoods Distribution from C$18.50 to C$22.00 and gave the stock an outperform rating in a report on Friday, December 20th. CIBC upped their price target on shares of Hardwoods Distribution from C$17.00 to C$19.00 in a report on Monday, January 13th. Finally, Canaccord Genuity upped their price target on shares of Hardwoods Distribution from C$18.00 to C$19.00 in a report on Monday, January 13th.

Shares of TSE:HDI opened at C$9.44 on Monday. The company’s 50 day moving average price is C$14.29 and its two-hundred day moving average price is C$14.34. Hardwoods Distribution has a 12-month low of C$7.40 and a 12-month high of C$17.23. The firm has a market cap of $205.71 million and a PE ratio of 6.84. The company has a quick ratio of 0.79, a current ratio of 2.09 and a debt-to-equity ratio of 66.78.

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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