Canfor (TSE:CFP) Share Price Passes Above Two Hundred Day Moving Average of $15.17

Shares of Canfor Co. (TSE:CFP - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$15.17 and traded as high as C$16.74. Canfor shares last traded at C$16.38, with a volume of 1,514,958 shares traded.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CFP. Scotiabank dropped their target price on Canfor from C$20.00 to C$19.00 and set a "sector perform" rating for the company in a report on Tuesday, July 30th. CIBC boosted their price objective on shares of Canfor from C$17.00 to C$19.00 and gave the company an "outperform" rating in a report on Monday, July 29th. TD Securities dropped their price target on shares of Canfor from C$20.00 to C$19.00 in a research report on Tuesday, July 23rd. Royal Bank of Canada boosted their price target on Canfor from C$18.00 to C$19.00 and gave the company an "outperform" rating in a research note on Monday, July 29th. Finally, Raymond James raised their price objective on Canfor from C$20.00 to C$23.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$19.83.

Canfor Price Performance

The firm has a market cap of C$1.94 billion, a price-to-earnings ratio of -4.93 and a beta of 2.06. The company has a current ratio of 1.99, a quick ratio of 2.14 and a debt-to-equity ratio of 11.97. The company's 50-day moving average is C$14.94 and its 200-day moving average is C$15.16.

Canfor (TSE:CFP - Get Free Report) last released its earnings results on Thursday, July 25th. The company reported C($1.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C($0.17) by C($1.25). The business had revenue of C$1.38 billion during the quarter, compared to the consensus estimate of C$1.42 billion. Canfor had a negative net margin of 7.39% and a negative return on equity of 9.65%. Equities research analysts predict that Canfor Co. will post 0.4005401 earnings per share for the current year.

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.