Canfor (TSE:CFP) Shares Pass Above 200-Day Moving Average of $22.71

Shares of Canfor Co. (TSE:CFP – Get Rating) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$22.71 and traded as high as C$23.86. Canfor shares last traded at C$23.19, with a volume of 155,687 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. CIBC dropped their price target on shares of Canfor from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, March 3rd. Raymond James decreased their price target on shares of Canfor from C$35.50 to C$34.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 1st. Finally, Scotiabank reduced their price target on shares of Canfor from C$33.00 to C$30.00 in a research note on Monday, January 9th.

Canfor Trading Down 2.7 %

The stock has a market cap of C$2.81 billion, a PE ratio of 3.53 and a beta of 2.06. The stock has a 50-day moving average price of C$23.41 and a two-hundred day moving average price of C$22.71. The company has a debt-to-equity ratio of 8.24, a current ratio of 3.47 and a quick ratio of 2.14.

About Canfor

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Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates through two segments, Lumber, and Pulp and Paper. The company manufactures and sells finger-jointed lumber, engineered wood products, wood chips and pellets, and logs, as well as custom specialty products, including strength-rated trusses, beams, and tongue-and-groove timber; and generates green energy.