Domtar Corporation (NYSE:UFS) (TSE:UFS) had its price objective lifted by National Bank Financial from $42.00 to $46.00 in a research report sent to investors on Monday. They currently have a sector perform rating on the basic materials company’s stock. National Bank Financial also issued estimates for Domtar Corporation’s Q4 2017 earnings at $0.63 EPS, FY2017 earnings at $2.59 EPS, FY2018 earnings at $2.85 EPS and FY2019 earnings at $2.86 EPS.
Several other research analysts have also commented on UFS. KeyCorp initiated coverage on Domtar Corporation in a research report on Thursday, July 6th. They set an underweight rating and a $33.00 price target for the company. ValuEngine upgraded Domtar Corporation from a hold rating to a buy rating in a research report on Thursday, July 6th. BidaskClub lowered Domtar Corporation from a hold rating to a sell rating in a research report on Tuesday, July 11th. Vertical Research restated a buy rating on shares of Domtar Corporation in a research report on Friday, July 28th. Finally, Scotiabank lowered their price target on Domtar Corporation from $40.50 to $40.00 and set a sector perform rating for the company in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $43.30.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last released its quarterly earnings results on Friday, October 27th. The basic materials company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.73 by $0.30. Domtar Corporation had a return on equity of 6.17% and a net margin of 3.44%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business posted $1.13 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis.
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In related news, insider Michael Dennis Garcia sold 4,712 shares of Domtar Corporation stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $42.73, for a total value of $201,343.76. Following the completion of the transaction, the insider now directly owns 4,712 shares in the company, valued at $201,343.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Fagan sold 4,154 shares of Domtar Corporation stock in a transaction on Monday, September 11th. The shares were sold at an average price of $41.40, for a total value of $171,975.60. Following the completion of the transaction, the insider now owns 10,649 shares of the company’s stock, valued at $440,868.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,766 shares of company stock valued at $569,809. 1.04% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in Domtar Corporation by 110.1% in the third quarter. American Century Companies Inc. now owns 24,377 shares of the basic materials company’s stock valued at $1,058,000 after purchasing an additional 12,772 shares during the period. Foundry Partners LLC boosted its holdings in Domtar Corporation by 104.4% in the third quarter. Foundry Partners LLC now owns 273,334 shares of the basic materials company’s stock valued at $11,860,000 after purchasing an additional 139,630 shares during the period. Victory Capital Management Inc. boosted its holdings in Domtar Corporation by 19.6% in the third quarter. Victory Capital Management Inc. now owns 18,901 shares of the basic materials company’s stock valued at $820,000 after purchasing an additional 3,094 shares during the period. Crossmark Global Holdings Inc. purchased a new position in Domtar Corporation in the third quarter valued at $648,000. Finally, Pictet Asset Management Ltd. purchased a new position in Domtar Corporation in the third quarter valued at $20,535,000. Hedge funds and other institutional investors own 91.07% of the company’s stock.
About Domtar Corporation
Domtar Corporation designs, manufactures, markets and distributes a range of fiber-based products, including communication papers, specialty and packaging papers and absorbent hygiene products. The Company segments include Pulp and Paper and Personal Care. The Pulp and Paper segment consists of the design, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.
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