Canfor (TSE:CFP) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Canfor Co. (TSE:CFP)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.51 and traded as low as C$14.38. Canfor shares last traded at C$14.65, with a volume of 98,411 shares traded.

Wall Street Analyst Weigh In

CFP has been the subject of a number of recent research reports. CIBC cut shares of Canfor from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from C$19.00 to C$16.00 in a report on Tuesday, April 22nd. Cibc World Mkts cut shares of Canfor from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 22nd. TD Securities upped their price objective on shares of Canfor from C$17.00 to C$18.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Royal Bank Of Canada decreased their price objective 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, April 22nd. Finally, Raymond James Financial decreased their price objective on shares of Canfor from C$24.00 to C$22.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$18.50.

Canfor Stock Performance

The stock has a market cap of C$1.76 billion, a price-to-earnings ratio of -2.44 and a beta of 2.08. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19. The stock’s 50-day simple moving average is C$13.44 and its two-hundred day simple moving average is C$14.51.

About Canfor

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.