Canfor (OTCMKTS:CFPZF) Stock Passes Above 50 Day Moving Average – Time to Sell?

Canfor Co. (OTCMKTS:CFPZF)’s stock price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.36 and traded as high as $10.1223. Canfor shares last traded at $9.8330, with a volume of 64,750 shares traded.

Analysts Set New Price Targets

CFPZF has been the topic of a number of analyst reports. Raymond James Financial lowered Canfor from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada lowered Canfor to a “sector perform” rating in a research report on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Canfor Stock Performance

The firm has a 50-day moving average price of $9.36 and a two-hundred day moving average price of $9.41.

Canfor Company Profile

Canfor Corporation is a Canada-based integrated forest products company headquartered in Vancouver, British Columbia. The company’s primary business activities include the manufacturing and distribution of softwood lumber, oriented strand board (OSB), and other wood products used in residential and commercial construction. In addition to its core lumber operations, Canfor produces northern bleached softwood kraft (NBSK) pulp, specialty papers and biofuels through its pulp and paper facilities, providing a vertically integrated offering for customers across multiple end markets.

Canfor operates an extensive network of manufacturing facilities, including lumber mills in British Columbia and Alberta, as well as in the U.S.