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

Canfor Co. (TSE:CFP) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$12.90 and traded as low as C$12.06. Canfor shares last traded at C$12.15, with a volume of 156,514 shares traded.

Analyst Upgrades and Downgrades

CFP has been the topic of several recent research reports. Raymond James Financial downgraded Canfor from a “strong-buy” rating to an “outperform” rating and set a C$17.00 price objective on the stock. in a research note on Friday, April 24th. Scotiabank raised Canfor from a “strong sell” rating to a “hold” rating and raised their price objective for the stock from C$13.00 to C$16.00 in a research note on Monday, January 26th. Finally, Royal Bank Of Canada downgraded Canfor from a “moderate buy” rating to a “hold” rating and set a C$15.00 price objective on the stock. in a research note on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$16.25.

Canfor Price Performance

The firm has a 50 day moving average price of C$13.23 and a 200 day moving average price of C$12.90. The company has a quick ratio of 2.14, a current ratio of 1.45 and a debt-to-equity ratio of 37.16. The stock has a market cap of C$1.43 billion, a P/E ratio of -1.79 and a beta of 1.28.

Canfor (TSE:CFP) last posted its quarterly earnings data on Friday, March 6th. The company reported C($3.33) EPS for the quarter. Canfor had a negative return on equity of 27.04% and a negative net margin of 14.92%.The company had revenue of C$1.28 billion during the quarter. On average, analysts forecast that Canfor Co. will post 0.4005401 EPS for the current fiscal year.

Canfor Company Profile

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.