Canfor (TSE:CFP) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Canfor Co. (TSE:CFP) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$13.28 and traded as high as C$13.79. Canfor shares last traded at C$13.75, with a volume of 198,901 shares changing hands.

Analyst Ratings Changes

CFP has been the subject of several research analyst reports. Raymond James Financial cut shares of Canfor from a “strong-buy” rating to an “outperform” rating and set a C$17.00 price target for the company. in a report on Friday, April 24th. Royal Bank Of Canada lowered shares of Canfor from a “moderate buy” rating to a “hold” rating and set a C$15.00 price objective on the stock. in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$16.25.

Canfor Stock Performance

The stock has a fifty day moving average of C$13.11 and a 200-day moving average of C$13.28. The firm has a market capitalization of C$1.63 billion, a P/E ratio of -1.94 and a beta of 1.42. The company has a quick ratio of 2.14, a current ratio of 1.32 and a debt-to-equity ratio of 43.49.

Canfor (TSE:CFP) last released its earnings results on Wednesday, May 6th. The company reported C($0.62) EPS for the quarter. Canfor had a negative net margin of 15.87% and a negative return on equity of 30.75%. The firm had revenue of C$1.36 billion during the quarter. On average, research analysts anticipate that Canfor Co. will post 0.4005401 EPS for the current year.

About Canfor

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.