Canfor (TSE:CFP) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Shares of Canfor Co. (TSE:CFP) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$15.70 and traded as low as C$14.55. Canfor shares last traded at C$14.91, with a volume of 337,787 shares.

Wall Street Analyst Weigh In

CFP has been the topic of a number of research analyst reports. CIBC boosted their target price on Canfor from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. BMO Capital Markets cut shares of Canfor from an “outperform” rating to a “market perform” rating in a research note on Friday, December 6th. TD Securities cut their target price on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Raymond James upgraded shares of Canfor from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from C$20.00 to C$28.00 in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada cut their price objective on Canfor from C$21.00 to C$19.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$21.33.

Canfor Trading Up 1.8 %

The business’s fifty day moving average price is C$16.60 and its 200 day moving average price is C$15.69. The company has a quick ratio of 2.14, a current ratio of 1.99 and a debt-to-equity ratio of 11.97. The firm has a market capitalization of C$1.80 billion, a PE ratio of -4.50 and a beta of 2.08.

About Canfor

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.