Canfor (TSE:CFP) Shares Cross Above 200 Day Moving Average – Should You Sell?

Canfor Co. (TSE:CFP) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$15.70 and traded as high as C$16.26. Canfor shares last traded at C$16.02, with a volume of 187,366 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on CFP shares. CIBC lifted their price objective on Canfor from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. BMO Capital Markets downgraded Canfor from an “outperform” rating to a “market perform” rating in a research note on Friday, December 6th. 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 note on Tuesday, October 29th. Finally, Raymond James upgraded shares of Canfor from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from C$20.00 to C$28.00 in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$21.33.

Canfor Trading Down 2.3 %

The company has a debt-to-equity ratio of 11.97, a current ratio of 1.99 and a quick ratio of 2.14. The firm has a market capitalization of C$1.90 billion, a P/E ratio of -4.75 and a beta of 2.08. The stock’s 50-day simple moving average is C$17.09 and its two-hundred day simple moving average is C$15.70.

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.