Insider Buying: Canfor Co. (TSE:CFP) Insider Purchases 225,000 Shares of Stock
Canfor Co. (TSE:CFP) insider James A. Pattison bought 225,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of C$21.20 per share, with a total value of C$4,770,000.00.
Shares of Canfor Co. (TSE:CFP) opened at 21.20 on Monday. The company has a 50-day moving average of $20.28 and a 200-day moving average of $18.63. Canfor Co. has a 12 month low of $13.35 and a 12 month high of $21.82. The firm has a market cap of $2.82 billion and a P/E ratio of 11.92.
Canfor (TSE:CFP) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.26. The company had revenue of $1.19 billion during the quarter. Canfor had a net margin of 7.67% and a return on equity of 20.50%. Equities analysts forecast that Canfor Co. will post $1.94 EPS for the current fiscal year.
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A number of equities research analysts recently commented on the stock. Royal Bank Of Canada downgraded shares of Canfor from a “sector perform” rating to an “underperform” rating and set a C$17.00 price objective for the company. in a research report on Wednesday, April 19th. CIBC downgraded shares of Canfor from a “sector outperform” rating to a “neutral” rating in a research report on Monday, April 24th. Raymond James Financial, Inc. upgraded shares of Canfor from an “outperform” rating to a “strong-buy” rating and set a C$24.00 price objective for the company in a research report on Tuesday, April 25th. Scotiabank raised their price objective on shares of Canfor from C$19.00 to C$22.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, TD Securities raised their price objective on shares of Canfor from C$22.00 to C$24.00 and gave the company a “buy” rating in a research report on Thursday, April 27th. 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 given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of C$21.45.
Canfor Corporation operates as an integrated forest products company in Canada, Asia, the United States, Europe, and internationally. It operates through Lumber, and Pulp and Paper segments. The company manufactures and sells lumber, engineered wood products, wood chips, wood pellets, and logs, as well as generates green energy.
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