Hardwoods Distribution Inc (TSE:HWD) had its price objective upped by Canaccord Genuity from C$23.00 to C$24.00 in a research note issued to investors on Wednesday.

Separately, National Bank Financial decreased their target price on Hardwoods Distribution from C$27.00 to C$24.00 and set an outperform rating for the company in a research note on Wednesday.

Hardwoods Distribution (TSE HWD) traded up C$0.29 during midday trading on Wednesday, reaching C$19.22. The company had a trading volume of 55,002 shares, compared to its average volume of 37,231. Hardwoods Distribution has a fifty-two week low of C$16.00 and a fifty-two week high of C$22.00.

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The company also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Monday, January 15th will be issued a $0.072 dividend. The ex-dividend date is Friday, January 12th. This represents a $0.29 annualized dividend and a yield of 1.50%. Hardwoods Distribution’s payout ratio is currently 12.16%.

About Hardwoods Distribution

Hardwoods Distribution Inc is a Canada-based company engaged in the wholesale distribution of hardwood lumber and related sheet good and specialty products. The Company operates through its Canada and United States segments. The Company, through its subsidiaries, is engaged in operating a network of over 30 distribution centers in Canada and the United States.

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