Canfor (TSE:CFP) Cut to Strong Sell at Scotiabank

Scotiabank lowered shares of Canfor (TSE:CFP) from a hold rating to a strong sell rating in a research note published on Monday morning,Zacks.com reports.

Other analysts have also issued research reports about the company. CIBC lowered their target price on Canfor from C$21.00 to C$19.00 in a report on Wednesday, January 15th. Royal Bank of Canada lowered their price objective on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Raymond James cut their target price on shares of Canfor from C$28.00 to C$24.00 in a research note on Thursday, January 30th. BMO Capital Markets lowered shares of Canfor from an “outperform” rating to a “market perform” rating in a research report on Friday, December 6th. Finally, TD Securities cut their price objective on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$20.33.

Canfor Price Performance

Shares of TSE:CFP opened at C$14.71 on Monday. The stock has a market capitalization of C$1.74 billion, a P/E ratio of -4.36 and a beta of 2.08. The business has a 50-day moving average of C$15.67 and a two-hundred day moving average of C$15.84. Canfor has a fifty-two week low of C$13.53 and a fifty-two week high of C$18.38. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.99 and a quick ratio of 2.14.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.