Hardwoods Distribution (HDIUF) Receives a Buy from Canaccord Genuity

By Ryan Adsit

Canaccord Genuity analyst Yuri Lynk maintained a Buy rating on Hardwoods Distribution (HDIUFResearch Report) yesterday and set a price target of C$37.00. The company’s shares closed last Tuesday at $26.17, close to its 52-week high of $26.80.

According to TipRanks.com, Lynk is a 5-star analyst with an average return of 15.1% and a 60.9% success rate. Lynk covers the Industrial Goods sector, focusing on stocks such as North American Construction Group, Badger Daylighting, and SNC-Lavalin Group.

Hardwoods Distribution has an analyst consensus of Strong Buy, with a price target consensus of $31.05.

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The company has a one-year high of $26.80 and a one-year low of $7.51. Currently, Hardwoods Distribution has an average volume of 463.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HDIUF in relation to earlier this year.

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Hardwoods Distribution, Inc. engages in the sourcing and distribution of architectural grade building products to the residential and commercial construction sectors. Its products include hardwood lumber, decorative surfaces, and composite panels. It operates through the Canada and United States geographical segments. The company was founded on April 5, 2011 and is headquartered in Langley, Canada.