CIBC Boosts Canfor Co. (CFP) Price Target to C$25.00
Canfor Co. (TSE:CFP) had its price target boosted by stock analysts at CIBC from C$21.00 to C$25.00 in a research note issued on Thursday. CIBC’s price target would suggest a potential upside of 3.48% from the company’s current price.
Several other research firms have also recently weighed in on CFP. BMO Capital Markets cut shares of Canfor from an “outperform” rating to a “market perform” rating in a report on Monday, August 14th. TD Securities increased their price target on shares of Canfor from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Friday, July 28th. Royal Bank Of Canada increased their price target on shares of Canfor from C$17.00 to C$18.00 and gave the company an “underperform” rating in a report on Friday, July 28th. Scotiabank increased their price target on shares of Canfor from C$20.50 to C$21.25 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, Raymond James Financial, Inc. increased their price target on shares of Canfor from C$24.00 to C$25.00 and gave the company a “strong-buy” rating in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Canfor has a consensus rating of “Buy” and a consensus price target of C$22.85.
Shares of Canfor (CFP) traded down 0.21% during trading on Thursday, reaching $24.11. The company had a trading volume of 133,023 shares. The firm has a 50 day moving average price of $23.25 and a 200 day moving average price of $20.60. The company has a market cap of $3.20 billion and a price-to-earnings ratio of 13.55. Canfor has a 12 month low of $13.35 and a 12 month high of $25.02.
Canfor (TSE:CFP) last released its quarterly earnings results on Wednesday, July 26th. The company reported C$0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.52 by C$0.26. The firm had revenue of C$1.19 billion for the quarter. Canfor had a net margin of 7.67% and a return on equity of 20.50%. Analysts predict that Canfor will post $1.71 earnings per share for the current year.
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In other Canfor news, Director William W. Stinson bought 3,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were bought at an average cost of C$21.34 per share, with a total value of C$64,020.00. Also, insider James A. Pattison bought 225,000 shares of the stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of C$21.20 per share, for a total transaction of C$4,770,000.00.
Canfor Company Profile
Canfor Corporation is an integrated forest products company. The Company produces softwood lumber, pulp and paper products, remanufactured lumber products, engineered wood products, wood pellets and energy. Its segments include lumber, and pulp and paper. Its lumber segment includes logging operations, and manufacturing and sale of various grades, widths and lengths of lumber, engineered wood products, wood chips and wood pellets.
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