Cibc World Mkts cut shares of Canfor (TSE:CFP - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.
A number of other research analysts also recently weighed in on the company. Scotiabank downgraded Canfor from a "hold" rating to a "strong sell" rating in a report on Monday, February 3rd. CIBC downgraded shares of Canfor from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from C$19.00 to C$16.00 in a report on Tuesday. Royal Bank of Canada reduced their target price on shares of Canfor from C$19.00 to C$16.00 and set an "outperform" rating for the company in a report on Tuesday. Raymond James dropped their price target on shares of Canfor from C$28.00 to C$24.00 in a research note on Thursday, January 30th. Finally, TD Securities reduced their price objective on Canfor from C$19.00 to C$17.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of C$18.67.
Read Our Latest Research Report on CFP
Canfor Stock Performance
CFP traded up C$0.24 during mid-day trading on Tuesday, reaching C$13.02. 207,991 shares of the company traded hands, compared to its average volume of 189,221. The company's fifty day moving average price is C$14.44 and its 200-day moving average price is C$15.55. The stock has a market capitalization of C$1.57 billion, a P/E ratio of -2.17 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. Canfor has a 52-week low of C$12.60 and a 52-week high of C$18.38.
About Canfor
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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.
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