RBC Capital Remains a Hold on Potlatch Corp

By Austin Angelo

In a report released yesterday, Paul Quinn from RBC Capital reiterated a Hold rating on Potlatch Corp (NASDAQ: PCH), with a price target of $47. The company’s shares opened today at $47.75, close to its 52-week high of $49.

According to TipRanks.com, Quinn is a top 25 analyst with an average return of 22.6% and a 80.6% success rate. Quinn covers the Consumer Goods sector, focusing on stocks such as Rayonier Advanced Materials, Mercer International Inc, and International Paper Co.

Currently, the analyst consensus on Potlatch Corp is Hold and the average price target is $43.50, representing a -8.9% downside.

In a report issued on July 19, BMO Capital also reiterated a Hold rating on the stock with a $40 price target.

Based on Potlatch Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $163 million and quarterly net profit of $24.24 million. In comparison, last year the company earned revenue of $142 million and had a GAAP net loss of $31.24 million.

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Potlatch Corp. is as a real estate investment trust, which owns and manages acres of timberlands. It operates through the following segments: Resource, Wood Products, and Real Estate. The Resource segment includes planting and harvesting trees; building and maintaining roads; hunting leases; recreation permits; biomass production; and carbon sequestration.