Canfor (TSE:CFP) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Shares of Canfor Co. (TSE:CFP - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$15.70 and traded as low as C$14.55. Canfor shares last traded at C$14.91, with a volume of 337,787 shares.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. BMO Capital Markets cut shares of Canfor from an "outperform" rating to a "market perform" rating in a research note on Friday, December 6th. Royal Bank of Canada dropped their target price on Canfor from C$21.00 to C$19.00 and set an "outperform" rating on the stock in a report on Friday, December 20th. 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. Raymond James raised Canfor from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from C$20.00 to C$28.00 in a research note on Tuesday, October 22nd. Finally, TD Securities decreased their target price on Canfor from C$22.00 to C$21.00 and set a "buy" rating for the company in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$21.33.

Canfor Price Performance

The company has a fifty day simple moving average of C$16.60 and a 200-day simple moving average of C$15.69. The company has a market cap of C$1.80 billion, a P/E ratio of -4.50 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.

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.