Canfor (TSE:CFP) Lowered to “Sector Perform” Rating by Royal Bank Of Canada

Royal Bank Of Canada downgraded shares of Canfor (TSE:CFP) from an outperform rating to a sector perform rating in a research report sent to investors on Thursday,BayStreet.CA reports. The brokerage currently has C$15.00 price objective on the stock.

A number of other research analysts have also recently commented on the company. Scotiabank raised Canfor from a “strong sell” rating to a “hold” rating and increased their target price for the company from C$13.00 to C$16.00 in a research note on Monday, January 26th. Raymond James Financial upgraded shares of Canfor from a “moderate buy” rating to a “strong-buy” rating and upped their price target for the company from C$15.00 to C$17.00 in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Canfor presently has a consensus rating of “Moderate Buy” and a consensus price target of C$16.20.

Canfor Stock Down 5.2%

CFP opened at C$12.41 on Thursday. The stock has a market cap of C$1.46 billion, a PE ratio of -1.83 and a beta of 1.28. The company has a quick ratio of 2.14, a current ratio of 1.45 and a debt-to-equity ratio of 37.16. Canfor has a 52 week low of C$10.86 and a 52 week high of C$16.08. The business’s fifty day simple moving average is C$13.74 and its 200 day simple moving average is C$12.89.

Canfor (TSE:CFP) last released its earnings results on Friday, March 6th. The company reported C($3.33) EPS for the quarter. The firm had revenue of C$1.28 billion during the quarter. Canfor had a negative net margin of 14.92% and a negative return on equity of 27.04%. As a group, research analysts expect that Canfor will post 0.4005401 earnings per share for the current fiscal year.

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.