Canfor Co. (CFP) Price Target Increased to C$27.00 by Analysts at CIBC
Canfor Co. (TSE:CFP) had its target price upped by research analysts at CIBC from C$25.00 to C$27.00 in a report released on Thursday. CIBC’s target price indicates a potential upside of 5.47% from the company’s current price.
CFP has been the topic of several other reports. Raymond James Financial, Inc. increased 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 increased their price objective on shares of Canfor from C$24.25 to C$25.25 and gave the company a “sector perform” rating in a research report on Tuesday. TD Securities increased their price objective on shares of Canfor from C$24.00 to C$25.00 and gave the company a “buy” rating in a research report on Friday, July 28th. BMO Capital Markets downgraded shares of Canfor from an “outperform” rating to a “market perform” rating in a research report on Monday, August 14th. Finally, Royal Bank Of Canada increased their price objective on shares of Canfor from C$17.00 to C$18.00 and gave the company an “underperform” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Canfor presently has an average rating of “Hold” and a consensus price target of C$25.05.
Canfor (TSE:CFP) traded down 0.08% on Thursday, reaching $25.60. 246,530 shares of the company traded hands. The company has a market capitalization of $3.40 billion and a PE ratio of 14.39. Canfor has a one year low of $13.54 and a one year high of $25.95. The stock’s 50 day moving average price is $23.68 and its 200 day moving average price is $20.84.
Canfor (TSE:CFP) last announced its quarterly earnings data on Wednesday, July 26th. The company reported C$0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.52 by C$0.26. Canfor had a net margin of 7.67% and a return on equity of 20.50%. The company had revenue of C$1.19 billion for the quarter. On average, equities research analysts predict that Canfor will post $1.84 EPS for the current fiscal year.
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In related news, insider James A. Pattison purchased 225,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of C$21.20 per share, with a total value of C$4,770,000.00. Also, Director William W. Stinson purchased 3,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were bought at an average cost 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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