Insider Buying: Canfor (TSE:CFP) Director Buys C$140,100.00 in Stock

Canfor Co. (TSE:CFP) Director Cheryl Anne-Marie Yaremko acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, October 8th. The stock was bought at an average price of C$14.01 per share, with a total value of C$140,100.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at C$140,100. This represents a ∞ increase in their ownership of the stock.

Canfor Price Performance

TSE:CFP opened at C$14.28 on Friday. The company has a debt-to-equity ratio of 41.78, a quick ratio of 2.14 and a current ratio of 1.35. The stock’s 50-day simple moving average is C$15.01 and its 200 day simple moving average is C$13.99. The company has a market cap of C$1.68 billion, a P/E ratio of -2.56 and a beta of 1.05. Canfor Co. has a 52-week low of C$10.86 and a 52-week high of C$16.59.

Canfor (TSE:CFP) last released its earnings results on Wednesday, July 29th. The company reported C($0.16) earnings per share (EPS) for the quarter. Canfor had a negative return on equity of 25.37% and a negative net margin of 12.04%. The company had revenue of C$1.53 billion for the quarter. As a group, sell-side analysts forecast that Canfor Co. will post 0.40 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CFP. TD dropped their price objective on Canfor from C$20.00 to C$18.00 and set a “buy” rating on the stock in a research note on Wednesday. Raymond James Financial raised shares of Canfor from a “moderate buy” rating to a “strong-buy” rating and raised their target price for the company from C$17.00 to C$21.00 in a research note on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$17.50.

Canfor Company Profile

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.