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

Canfor Co. (TSE:CFP) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$15.87 and traded as high as C$16.02. Canfor shares last traded at C$15.97, with a volume of 240,616 shares changing hands.

Wall Street Analyst Weigh In

CFP has been the subject of several research analyst reports. Raymond James reduced their price target on shares of Canfor from C$28.00 to C$24.00 in a research report on Thursday, January 30th. TD Securities decreased their target price on Canfor from C$20.00 to C$19.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Scotiabank lowered Canfor from a “hold” rating to a “strong sell” rating in a research note on Monday, February 3rd. BMO Capital Markets downgraded Canfor from an “outperform” rating to a “market perform” rating in a research note on Friday, December 6th. Finally, CIBC lowered their target price on shares of Canfor from C$21.00 to C$19.00 in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Canfor presently has a consensus rating of “Moderate Buy” and a consensus target price of C$20.00.

Canfor Stock Performance

The firm has a fifty day moving average price of C$15.12 and a 200 day moving average price of C$15.87. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 21.94. The firm has a market cap of C$1.85 billion, a PE ratio of -2.56 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.