Canfor (TSE:CFP) Rating Increased to Sector Perform at Scotiabank

Scotiabank upgraded shares of Canfor (TSE:CFP) from an underperform rating to a sector perform rating in a research note published on Monday morning,BayStreet.CA reports. They currently have C$16.00 price objective on the stock, up from their prior price objective of C$13.00.

A number of other brokerages also recently issued reports on CFP. Royal Bank Of Canada lowered their price target on Canfor from C$16.00 to C$15.00 and set an “outperform” rating for the company in a report on Thursday, December 18th. Raymond James Financial upgraded shares of Canfor from a “moderate buy” rating to a “strong-buy” rating and upped their target price for the company from C$15.00 to C$17.00 in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Canfor currently has a consensus rating of “Moderate Buy” and an average target price of C$16.20.

Canfor Stock Performance

TSE:CFP opened at C$14.99 on Monday. Canfor has a 12 month low of C$10.86 and a 12 month high of C$16.22. The company has a debt-to-equity ratio of 21.94, a current ratio of 2.19 and a quick ratio of 2.14. The firm has a market capitalization of C$1.75 billion, a PE ratio of -3.77 and a beta of 2.00. The business’s fifty day moving average price is C$12.18 and its 200 day moving average price is C$12.71.

Canfor (TSE:CFP) last released its quarterly earnings data on Wednesday, November 5th. The company reported C($1.48) earnings per share (EPS) for the quarter. Canfor had a negative return on equity of 20.05% and a negative net margin of 13.77%.The business had revenue of C$1.26 billion for the quarter. On average, sell-side analysts anticipate that Canfor will post 0.4005401 earnings per share for the current fiscal year.

About Canfor

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.