Canfor Co. (CFP) Price Target Raised to C$30.00
Canfor Co. (TSE:CFP) had its target price raised by research analysts at TD Securities from C$29.00 to C$30.00 in a report issued on Tuesday. TD Securities’ target price would suggest a potential upside of 16.78% from the stock’s previous close.
CFP has been the topic of several other reports. CIBC increased their price target on shares of Canfor from C$21.00 to C$25.00 in a research note on Thursday, October 19th. BMO Capital Markets lowered shares of Canfor from an “outperform” rating to a “market perform” rating in a research report on Monday, August 14th. Raymond James Financial, Inc. lifted their price objective on shares of Canfor from C$24.00 to C$25.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 27th. Scotiabank lifted their price objective on shares of Canfor from C$20.50 to C$21.25 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada raised their target price on Canfor from C$17.00 to C$18.00 and gave the company an “underperform” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of C$24.65.
Canfor (TSE CFP) traded up 0.16% during midday trading on Tuesday, hitting $25.69. 365,470 shares of the stock traded hands. The company’s 50-day moving average is $23.56 and its 200 day moving average is $20.80. The firm has a market cap of $3.41 billion and a P/E ratio of 14.44. Canfor has a 12-month low of $13.40 and a 12-month high of $25.95.
Canfor (TSE:CFP) last issued its 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%. On average, analysts anticipate that Canfor will post $1.71 EPS for the current fiscal year.
In other Canfor news, insider James A. Pattison bought 225,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of C$21.20 per share, with a total value of C$4,770,000.00. Also, Director William W. Stinson bought 3,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of C$21.34 per share, for a total transaction of C$64,020.00.
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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