Canfor (TSE:CFP) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Canfor Co. (TSE:CFP)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$13.56 and traded as high as C$14.30. Canfor shares last traded at C$14.04, with a volume of 80,911 shares.

Analysts Set New Price Targets

Several analysts have commented on the stock. TD increased their price target on shares of Canfor from C$16.00 to C$18.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada downgraded shares of Canfor from a “moderate buy” rating to a “hold” rating and set a C$15.00 price objective on the stock. in a research report on Thursday, April 16th. Finally, Raymond James Financial lowered shares of Canfor from a “strong-buy” rating to an “outperform” rating and set a C$17.00 price objective for the company. in a research note on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$16.60.

Canfor Price Performance

The company has a current ratio of 1.32, a quick ratio of 2.14 and a debt-to-equity ratio of 43.49. The stock has a market cap of C$1.65 billion, a price-to-earnings ratio of -1.97 and a beta of 1.37. The stock has a 50-day moving average price of C$13.62 and a two-hundred day moving average price of C$13.56.

Canfor (TSE:CFP) last announced its earnings results on Wednesday, May 6th. The company reported C($0.62) earnings per share for the quarter. Canfor had a negative return on equity of 30.75% and a negative net margin of 15.87%.The business had revenue of C$1.36 billion for the quarter. As a group, equities research analysts forecast that Canfor Co. will post 0.4005401 EPS for the current year.

About Canfor

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.