Resolute Forest Products Sees Unusually High Options Volume (RFP)

Resolute Forest Products (NYSE:RFP) (TSE:RFP) was the target of some unusual options trading activity on Thursday. Stock investors purchased 799 call options on the company. This is an increase of approximately 995% compared to the average volume of 73 call options.

A number of research analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of Resolute Forest Products from $13.00 to $14.00 and gave the company a “sector perform” rating in a research report on Friday, November 2nd. TD Securities reduced their price target on shares of Resolute Forest Products from $14.00 to $13.50 and set a “hold” rating for the company in a research report on Friday, November 2nd. Finally, CIBC lowered shares of Resolute Forest Products from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, September 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.88.

In other Resolute Forest Products news, SVP John Lafave sold 12,500 shares of the business’s stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $9.40, for a total transaction of $117,500.00. Following the sale, the senior vice president now owns 87,556 shares of the company’s stock, valued at approximately $823,026.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

A number of large investors have recently made changes to their positions in RFP. Paloma Partners Management Co purchased a new position in Resolute Forest Products in the second quarter worth $130,000. Campbell & CO Investment Adviser LLC purchased a new position in Resolute Forest Products in the third quarter worth $143,000. Ramsey Quantitative Systems purchased a new position in Resolute Forest Products in the third quarter worth $182,000. Verition Fund Management LLC purchased a new position in Resolute Forest Products in the third quarter worth $190,000. Finally, Cubist Systematic Strategies LLC grew its position in Resolute Forest Products by 40.8% in the second quarter. Cubist Systematic Strategies LLC now owns 19,446 shares of the basic materials company’s stock worth $201,000 after acquiring an additional 5,634 shares in the last quarter. Institutional investors own 91.48% of the company’s stock.

Shares of NYSE:RFP opened at $9.36 on Friday. Resolute Forest Products has a 52-week low of $7.27 and a 52-week high of $15.75. The firm has a market capitalization of $819.95 million, a P/E ratio of 4.36 and a beta of 1.18. The company has a quick ratio of 1.59, a current ratio of 2.56 and a debt-to-equity ratio of 0.36.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last announced its earnings results on Thursday, November 1st. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.34. Resolute Forest Products had a net margin of 5.70% and a return on equity of 11.49%. The company had revenue of $974.00 million during the quarter. During the same quarter last year, the firm posted $0.34 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis.

The business also recently announced a dividend, which was paid on Thursday, December 20th. Investors of record on Thursday, December 6th were given a $1.50 dividend. The ex-dividend date of this dividend was Wednesday, December 5th.

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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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