Canfor (TSE:CFP) Given New C$16.00 Price Target at Royal Bank of Canada

Canfor (TSE:CFP - Get Free Report) had its target price reduced by research analysts at Royal Bank of Canada from C$19.00 to C$16.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank of Canada's price objective indicates a potential upside of 23.74% from the stock's previous close.

CFP has been the topic of a number of other reports. Raymond James lowered their price objective on Canfor from C$28.00 to C$24.00 in a research report on Thursday, January 30th. CIBC lowered shares of Canfor from an "outperform" rating to a "neutral" rating and lowered their price target for the company from C$19.00 to C$16.00 in a report on Tuesday. Scotiabank downgraded shares of Canfor from a "hold" rating to a "strong sell" rating in a report on Monday, February 3rd. Finally, TD Securities lowered their target price on shares of Canfor from C$19.00 to C$17.00 and set a "buy" rating on the stock in a research note 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$18.67.

Canfor Stock Performance

Shares of TSE CFP traded up C$0.15 during mid-day trading on Tuesday, hitting C$12.93. The company had a trading volume of 39,921 shares, compared to its average volume of 187,058. Canfor has a 12 month low of C$12.60 and a 12 month high of C$18.38. The firm has a market cap of C$1.55 billion, a P/E ratio of -2.15 and a beta of 2.08. The business's 50-day simple moving average is C$14.49 and its 200-day simple moving average is C$15.56. The company has a debt-to-equity ratio of 21.94, a current ratio of 2.19 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.