Raymond James upgraded shares of Canfor (TSE:CFP - Free Report) from an outperform rating to a strong-buy rating in a report issued on Tuesday, BayStreet.CA reports. Raymond James currently has C$28.00 price objective on the stock, up from their previous price objective of C$20.00.
Other equities analysts have also issued research reports about the stock. CIBC lifted their price target on shares of Canfor from C$17.00 to C$19.00 and gave the stock an "outperform" rating in a report on Monday, July 29th. TD Securities cut their price target on Canfor from C$20.00 to C$19.00 in a report on Tuesday, July 23rd. Royal Bank of Canada boosted their target price on shares of Canfor from C$18.00 to C$19.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. Scotiabank cut their price objective on shares of Canfor from C$20.00 to C$19.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 30th. Finally, BMO Capital Markets decreased their price target on Canfor from C$22.00 to C$20.00 and set a "strong-buy" rating for the company in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of C$20.67.
Read Our Latest Research Report on CFP
Canfor Stock Performance
TSE:CFP traded up C$0.20 on Tuesday, hitting C$16.88. The company's stock had a trading volume of 235,948 shares, compared to its average volume of 197,995. Canfor has a one year low of C$13.41 and a one year high of C$19.30. The firm has a market capitalization of C$2.00 billion, a P/E ratio of -5.07 and a beta of 2.08. The stock has a fifty day moving average of C$15.67 and a two-hundred day moving average of C$15.17. The company has a current ratio of 1.99, a quick ratio of 2.14 and a debt-to-equity ratio of 11.97.
Canfor (TSE:CFP - Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported C($1.42) EPS for the quarter, missing the consensus estimate of C($0.17) by C($1.25). The firm had revenue of C$1.38 billion during the quarter, compared to analyst estimates of C$1.42 billion. Canfor had a negative net margin of 7.39% and a negative return on equity of 9.65%. Research analysts predict that Canfor will post 0.4005401 earnings per share for the current year.
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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