Canfor (TSE:CFP) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Canfor Co. (TSE:CFP)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$15.71 and traded as low as C$15.23. Canfor shares last traded at C$15.32, with a volume of 185,470 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada cut 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. TD Securities dropped their price target 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. BMO Capital Markets cut shares of Canfor from an “outperform” rating to a “market perform” rating in a report on Friday, December 6th. Raymond James raised Canfor from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from C$20.00 to C$28.00 in a report on Tuesday, October 22nd. Finally, CIBC increased their price target on Canfor from C$20.00 to C$21.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$21.33.

Canfor Stock Performance

The firm has a market capitalization of C$1.78 billion, a price-to-earnings ratio of -4.47 and a beta of 2.08. 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’s fifty day moving average is C$16.40 and its 200 day moving average is C$15.71.

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.