Hardwoods Distribution (OTCMKTS:HDIUF) Trading Down 7.9%

Shares of Hardwoods Distribution Inc. (OTCMKTS:HDIUFGet Rating) fell 7.9% on Tuesday . The stock traded as low as $21.84 and last traded at $21.84. 6,700 shares were traded during mid-day trading, an increase of 335% from the average session volume of 1,539 shares. The stock had previously closed at $23.70.

Several brokerages recently weighed in on HDIUF. Canaccord Genuity Group upped their price target on Hardwoods Distribution from C$60.00 to C$63.00 and gave the stock a “buy” rating in a research note on Monday, May 16th. Scotiabank began coverage on Hardwoods Distribution in a research note on Wednesday, April 6th. They issued an “outperform” rating on the stock. Finally, TD Securities upped their price target on Hardwoods Distribution from C$64.00 to C$73.00 in a research note on Monday, May 16th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hardwoods Distribution has a consensus rating of “Buy” and a consensus price target of $69.10.

The business has a 50 day moving average price of $25.34 and a 200 day moving average price of $30.08.

The business also recently announced a dividend, which was paid on Friday, April 29th. Stockholders of record on Tuesday, April 19th were paid a $0.0939 dividend. The ex-dividend date was Monday, April 18th. This represents a dividend yield of 1.37%.

About Hardwoods Distribution (OTCMKTS:HDIUF)

Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets. It offers a range of decorative surfaces, including architectural grade plywood and veneers, hardwood lumber, laminates, acrylics, and composites for use in commercial and residential applications; specialty plywood and composite panel products for residential and commercial cabinet, countertop, store fixture, and RV and furniture industries; and other products comprising moldings, cabinet hardware, doors, millwork, adhesives, solid surface products, and decorative laminates.

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