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

Canfor Co. (TSE:CFP) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

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

Canfor Trading Up 3.0 %

The stock has a market capitalization of C$1.92 billion, a price-to-earnings ratio of -2.66 and a beta of 2.08. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19. The firm has a fifty day moving average of C$15.10 and a 200-day moving average of C$15.87.

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.