Canfor (OTCMKTS:CFPZF) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

Canfor Co. (OTCMKTS:CFPZF) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $9.41 and traded as high as $9.76. Canfor shares last traded at $9.65, with a volume of 8,826 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada lowered Canfor to a “sector perform” rating in a research note on Thursday, April 16th. Raymond James Financial lowered Canfor from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Canfor presently has a consensus rating of “Moderate Buy”.

Canfor Trading Up 1.5%

The stock has a 50 day moving average price of $9.41 and a two-hundred day moving average price of $9.47.

About Canfor

Canfor Corporation is a Canada-based integrated forest products company headquartered in Vancouver, British Columbia. The company’s primary business activities include the manufacturing and distribution of softwood lumber, oriented strand board (OSB), and other wood products used in residential and commercial construction. In addition to its core lumber operations, Canfor produces northern bleached softwood kraft (NBSK) pulp, specialty papers and biofuels through its pulp and paper facilities, providing a vertically integrated offering for customers across multiple end markets.

Canfor operates an extensive network of manufacturing facilities, including lumber mills in British Columbia and Alberta, as well as in the U.S.