Canfor (TSE:CFP) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Canfor Co. (TSE:CFP) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$15.85 and traded as low as C$15.04. Canfor shares last traded at C$15.16, with a volume of 179,383 shares traded.

Analyst Upgrades and Downgrades

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

Canfor Trading Up 0.9 %

The firm’s 50-day moving average price is C$15.24 and its 200-day moving average price is C$15.85. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 21.94. The company has a market cap of C$1.82 billion, a P/E ratio of -2.52 and a beta of 2.08.

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.