Canfor (OTCMKTS:CFPZF) Stock Breaks Below 200-Day Moving Average – Here’s Why

Shares of Canfor Co. (OTCMKTS:CFPZF) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $10.14 and traded as low as $9.78. Canfor shares last traded at $10.1330, with a volume of 20,502 shares traded.

Wall Street Analyst Weigh In

CFPZF has been the topic of several recent analyst reports. BMO Capital Markets reiterated a “market perform” rating on shares of Canfor in a report on Thursday, August 13th. Scotiabank restated a “sector perform” rating on shares of Canfor in a report on Tuesday, August 4th. Raymond James Financial raised shares of Canfor from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, September 15th. TD Securities reaffirmed a “buy” rating on shares of Canfor in a research report on Friday, July 31st. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Canfor in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Canfor presently has a consensus rating of “Moderate Buy”.

Canfor Price Performance

The stock’s 50-day simple moving average is $10.66 and its 200 day simple moving average is $10.14.

About Canfor

Canfor Corporation is a Canadian forest products company that manufactures and sells lumber, pulp, paper, and related wood products. Its lumber portfolio includes dimension lumber and specialty products made from species such as spruce, pine, fir, and southern yellow pine, serving residential construction, industrial, packaging, and other end markets.

The company operates sawmills and manufacturing facilities in Canada and the United States, along with additional international operations and sales channels.