Canfor Pulp Products (TSE:CFX) Shares Pass Above 200-Day Moving Average – Here’s Why

Canfor Pulp Products Inc. (TSE:CFX)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.50 and traded as high as C$0.69. Canfor Pulp Products shares last traded at C$0.65, with a volume of 50,348 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CFX. Royal Bank Of Canada increased their price objective on shares of Canfor Pulp Products from C$0.40 to C$0.50 and gave the company a “sector perform” rating in a research report on Thursday, December 18th. Raymond James Financial downgraded Canfor Pulp Products from a “moderate buy” rating to a “hold” rating and lowered their price target for the company from C$0.75 to C$0.50 in a report on Wednesday, January 14th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Canfor Pulp Products currently has an average rating of “Hold” and an average target price of C$0.58.

Canfor Pulp Products Stock Down 1.5%

The company has a debt-to-equity ratio of 57.90, a current ratio of 0.91 and a quick ratio of 0.73. The firm has a market cap of C$42.40 million, a price-to-earnings ratio of -4.06, a P/E/G ratio of -25.62 and a beta of 0.18. The firm’s fifty day moving average is C$0.55 and its two-hundred day moving average is C$0.50.

Canfor Pulp Products (TSE:CFX) last announced its earnings results on Wednesday, November 5th. The company reported C($0.19) EPS for the quarter. Canfor Pulp Products had a negative return on equity of 60.52% and a negative net margin of 21.46%.The firm had revenue of C$164.60 million for the quarter. On average, sell-side analysts expect that Canfor Pulp Products Inc. will post 0.12 EPS for the current fiscal year.

Canfor Pulp Products Company Profile

Canfor Pulp Products Inc produces and sells northern bleached softwood kraft pulp, or NBSK pulp and paper. The company also generates and sells electricity from biomass out of its pulp plants in Western Canada. The firm organizes itself into two segments based on product: pulp and paper. The pulp segment generates most of the revenue. Canfor Pulp’s NBSK pulp customers are typically manufacturers of tissue paper, specialty paper, and printing and writing paper. Most of Canfor Pulp’s revenue comes from Asia.