Hardwoods Distribution Inc. (OTCMKTS:HDIUF – Get Rating) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 107,500 shares, an increase of 41.3% from the August 31st total of 76,100 shares. Based on an average trading volume of 600 shares, the days-to-cover ratio is presently 179.2 days.
Hardwoods Distribution Stock Performance
Shares of HDIUF opened at $18.35 on Friday. The business has a 50-day simple moving average of $23.16 and a two-hundred day simple moving average of $24.81. Hardwoods Distribution has a 52 week low of $17.98 and a 52 week high of $38.96.
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The business also recently declared a dividend, which was paid on Friday, July 29th. Shareholders of record on Monday, July 18th were given a $0.0927 dividend. This represents a yield of 1.63%. The ex-dividend date was Friday, July 15th.
Analyst Upgrades and Downgrades
HDIUF has been the subject of a number of research reports. Stifel Nicolaus initiated coverage on Hardwoods Distribution in a research report on Thursday. They set a "buy" rating for the company. CIBC upped their price objective on Hardwoods Distribution from C$41.00 to C$46.00 in a research report on Tuesday, August 16th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Hardwoods Distribution currently has a consensus rating of "Buy" and a consensus target price of $66.30.About Hardwoods Distribution
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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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