Canfor (OTCMKTS:CFPZF) Shares Cross Below 200-Day Moving Average – Should You Sell?

Canfor Co. (OTCMKTS:CFPZF)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.33 and traded as low as $9.15. Canfor shares last traded at $9.4665, with a volume of 74,282 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Raymond James Financial upgraded shares of Canfor to a “strong-buy” rating in a report on Wednesday, January 14th. Royal Bank Of Canada cut shares of Canfor to a “sector perform” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy”.

Canfor Trading Up 4.8%

The stock’s 50-day moving average price is $9.97 and its 200 day moving average price is $9.33.

About Canfor

Canfor Corporation is a Canada-based integrated forest products company headquartered in Vancouver, British Columbia. The company’s primary business activities include the manufacturing and distribution of softwood lumber, oriented strand board (OSB), and other wood products used in residential and commercial construction. In addition to its core lumber operations, Canfor produces northern bleached softwood kraft (NBSK) pulp, specialty papers and biofuels through its pulp and paper facilities, providing a vertically integrated offering for customers across multiple end markets.

Canfor operates an extensive network of manufacturing facilities, including lumber mills in British Columbia and Alberta, as well as in the U.S.