Hardwoods Distribution Inc (HDIUF) Receives a Buy from CIBC

By Carrie Williams

CIBC analyst Hamir Patel maintained a Buy rating on Hardwoods Distribution Inc (HDIUFResearch Report) on October 11. The company’s shares closed last Monday at $8.38.

According to TipRanks.com, Patel is a 3-star analyst with an average return of 4.8% and a 43.4% success rate. Patel covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Interfor Corporation, and Stella-Jones Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hardwoods Distribution Inc with a $15.00 average price target.

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Hardwoods Distribution Inc’s market cap is currently $178.3M and has a P/E ratio of 8.45. The company has a Price to Book ratio of 0.85.

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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.