Canfor (TSE:CFP) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Canfor Co. (TSE:CFP) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$15.70 and traded as high as C$16.26. Canfor shares last traded at C$16.02, with a volume of 187,366 shares trading hands.

Wall Street Analyst Weigh In

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

Canfor Price Performance

The stock’s 50 day moving average price is C$17.09 and its 200-day moving average price is C$15.70. 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 stock has a market capitalization of C$1.90 billion, a PE ratio of -4.75 and a beta of 2.08.

Canfor Company Profile

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.