Canfor (TSE:CFP) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Canfor Co. (TSE:CFP) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.87 and traded as high as C$16.02. Canfor shares last traded at C$15.97, with a volume of 240,616 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CFP. Royal Bank of Canada lowered their price target on Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. CIBC reduced their target price on Canfor from C$21.00 to C$19.00 in a research note on Wednesday, January 15th. BMO Capital Markets lowered Canfor from an “outperform” rating to a “market perform” rating in a research note on Friday, December 6th. Raymond James reduced their target price on Canfor from C$28.00 to C$24.00 in a research note on Thursday, January 30th. Finally, TD Securities reduced their target price on Canfor from C$20.00 to C$19.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Canfor presently has an average rating of “Moderate Buy” and an average target price of C$20.00.

Canfor Trading Up 3.0 %

The company has a market cap of C$1.92 billion, a PE ratio of -2.66 and a beta of 2.08. The business has a 50 day simple moving average of C$15.10 and a two-hundred day simple moving average of C$15.87. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 21.94.

About Canfor

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.