Canfor (TSE:CFP) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Canfor Co. (TSE:CFP) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$12.92 and traded as high as C$13.69. Canfor shares last traded at C$13.49, with a volume of 221,486 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CFP shares. Royal Bank Of Canada lowered shares of Canfor from a “moderate buy” rating to a “hold” rating and set a C$15.00 target price on the stock. in a report on Thursday, April 16th. Raymond James Financial lowered shares of Canfor from a “strong-buy” rating to an “outperform” rating and set a C$17.00 target price on the stock. in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Canfor currently has a consensus rating of “Moderate Buy” and an average price target of C$16.25.

Canfor Stock Performance

The company has a debt-to-equity ratio of 43.49, a quick ratio of 2.14 and a current ratio of 1.32. The stock has a market cap of C$1.58 billion, a PE ratio of -1.89 and a beta of 1.41. The company’s 50 day simple moving average is C$12.82 and its 200 day simple moving average is C$12.92.

Canfor (TSE:CFP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C($0.62) EPS for the quarter. Canfor had a negative net margin of 15.87% and a negative return on equity of 30.75%. The firm had revenue of C$1.36 billion during the quarter. Analysts expect that Canfor Co. will post 0.4005401 earnings per share for the current year.

Canfor Company Profile

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.