Canfor (TSE:CFP) Rating Lowered to Neutral at CIBC

CIBC lowered shares of Canfor (TSE:CFP - Free Report) from an outperform rating to a neutral rating in a research note published on Tuesday morning,BayStreet.CA reports. They currently have C$16.00 price objective on the stock, down from their previous price objective of C$19.00.

A number of other research analysts have also issued reports on the stock. Scotiabank lowered shares of Canfor from a "hold" rating to a "strong sell" rating in a research note on Monday, February 3rd. Raymond James reduced their price objective on Canfor from C$28.00 to C$24.00 in a research report on Thursday, January 30th. Finally, TD Securities lowered their target price on Canfor from C$19.00 to C$17.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Canfor has a consensus rating of "Hold" and an average target price of C$18.67.

Canfor Stock Performance

CFP stock traded up C$0.15 during mid-day trading on Tuesday, reaching C$12.93. The company had a trading volume of 39,921 shares, compared to its average volume of 187,058. Canfor has a one year low of C$12.60 and a one year high of C$18.38. The stock has a market capitalization of C$1.55 billion, a P/E ratio of -2.15 and a beta of 2.08. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 21.94. The stock's 50-day simple moving average is C$14.49 and its two-hundred day simple moving average is C$15.56.

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.