Scotiabank Raises Canfor Co. (CFP) Price Target to C$25.25
Canfor Co. (TSE:CFP) had its price target upped by research analysts at Scotiabank from C$24.25 to C$25.25 in a research note issued on Tuesday. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential downside of 1.71% from the stock’s current price.
Several other equities analysts have also recently weighed in on the stock. Raymond James Financial, Inc. raised 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 research report on Thursday, July 27th. TD Securities lifted their target price on shares of Canfor from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Royal Bank Of Canada lifted their target price on shares of Canfor from C$17.00 to C$18.00 and gave the stock an “underperform” rating in a research report on Friday, July 28th. BMO Capital Markets cut shares of Canfor from an “outperform” rating to a “market perform” rating in a report on Monday, August 14th. Finally, CIBC lifted their price target on shares of Canfor from C$21.00 to C$25.00 in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of C$24.65.
Shares of Canfor (TSE:CFP) traded up 0.16% during midday trading on Tuesday, hitting $25.69. The company had a trading volume of 365,470 shares. Canfor has a one year low of $13.40 and a one year high of $25.95. The stock’s 50-day moving average price is $23.56 and its 200-day moving average price is $20.80. The stock has a market capitalization of $3.41 billion and a price-to-earnings ratio of 14.44.
Canfor (TSE:CFP) last issued its quarterly earnings results on Wednesday, July 26th. The company reported C$0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.52 by C$0.26. Canfor had a return on equity of 20.50% and a net margin of 7.67%. The firm had revenue of C$1.19 billion during the quarter. Analysts predict that Canfor will post $1.71 EPS for the current year.
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In related news, insider James A. Pattison purchased 225,000 shares of Canfor stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of C$21.20 per share, for a total transaction of C$4,770,000.00. Also, Director William W. Stinson purchased 3,000 shares of Canfor stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average price of C$21.34 per share, for a total transaction of C$64,020.00.
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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