Canfor (TSE:CFP) Hits New 12-Month Low - Should You Sell?

Canfor Co. (TSE:CFP - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as C$12.73 and last traded at C$12.74, with a volume of 91052 shares changing hands. The stock had previously closed at C$12.86.

Wall Street Analysts Forecast Growth

CFP has been the subject of a number of recent analyst reports. Scotiabank cut shares of Canfor from a "hold" rating to a "strong sell" rating in a research note on Monday, February 3rd. Raymond James lowered their price objective on shares of Canfor from C$28.00 to C$24.00 in a research note on Thursday, January 30th. Royal Bank of Canada cut their target price on Canfor from C$19.00 to C$16.00 and set an "outperform" rating on the stock in a research report on Tuesday. TD Securities lowered their price target on Canfor from C$19.00 to C$17.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, CIBC downgraded Canfor from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from C$19.00 to C$16.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of C$18.67.

Canfor Stock Up 1.2 %

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 market cap of C$1.55 billion, a price-to-earnings ratio of -2.15 and a beta of 2.08. The business's 50 day moving average price is C$14.49 and its 200 day moving average price is C$15.56.

About Canfor

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.