Domtar (UFS) PT Raised to $56.00

Domtar (NYSE:UFS) (TSE:UFS) had its target price lifted by equities researchers at Bank of America from $55.00 to $56.00 in a research note issued to investors on Friday. The brokerage currently has a “neutral” rating on the basic materials company’s stock. Bank of America’s price objective would indicate a potential upside of 16.67% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Citigroup upped their price target on shares of Domtar from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday. Royal Bank of Canada upped their price target on shares of Domtar from $54.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday. Raymond James set a $49.00 price target on shares of Domtar and gave the company a “hold” rating in a research report on Thursday. Vertical Research upgraded shares of Domtar from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Thursday. Finally, TheStreet downgraded shares of Domtar from a “b” rating to a “c+” rating in a research report on Wednesday, October 24th. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $49.38.

UFS stock traded up $0.98 on Friday, hitting $48.00. 883,819 shares of the company’s stock traded hands, compared to its average volume of 728,665. Domtar has a 1-year low of $40.72 and a 1-year high of $54.50. The firm has a market cap of $3.02 billion, a PE ratio of 13.22, a P/E/G ratio of 2.51 and a beta of 1.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.37 and a quick ratio of 1.31.

Domtar (NYSE:UFS) (TSE:UFS) last issued its quarterly earnings results on Thursday, November 1st. The basic materials company reported $1.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.32. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.42 billion. Domtar had a negative net margin of 2.67% and a positive return on equity of 9.13%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. As a group, sell-side analysts expect that Domtar will post 3.82 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in UFS. Jane Street Group LLC increased its stake in Domtar by 80.9% in the 1st quarter. Jane Street Group LLC now owns 10,085 shares of the basic materials company’s stock valued at $429,000 after buying an additional 4,509 shares during the period. LPL Financial LLC acquired a new position in Domtar in the 1st quarter valued at approximately $213,000. Xact Kapitalforvaltning AB increased its stake in Domtar by 45.1% in the 1st quarter. Xact Kapitalforvaltning AB now owns 9,002 shares of the basic materials company’s stock valued at $383,000 after buying an additional 2,800 shares during the period. Principal Financial Group Inc. increased its stake in Domtar by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 273,787 shares of the basic materials company’s stock valued at $11,647,000 after buying an additional 6,663 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in Domtar by 36.3% in the 1st quarter. Allianz Asset Management GmbH now owns 764,260 shares of the basic materials company’s stock valued at $32,490,000 after buying an additional 203,434 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

About Domtar

Domtar Corporation designs, manufactures, markets, and distributes various communication papers, specialty and packaging papers, and absorbent hygiene products in the United States, Canada, Europe, Asia, and internationally. It operates in two segments, Pulp and Paper, and Personal Care. The company offers business papers, including copy and electronic imaging papers for use with inkjet and laser printers, photocopiers, and plain-paper fax machines, as well as computer papers, preprinted forms, and digital papers for office and home use.

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