Canfor (TSE:CFP) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Canfor Co. (TSE:CFP) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$15.71 and traded as low as C$15.23. Canfor shares last traded at C$15.32, with a volume of 185,470 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently commented on CFP. CIBC upped their target price on Canfor from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. TD Securities dropped their price objective on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Raymond James raised shares of Canfor from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from C$20.00 to C$28.00 in a report on Tuesday, October 22nd. Royal Bank of Canada lowered their price target on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Finally, BMO Capital Markets cut shares of Canfor from an “outperform” rating to a “market perform” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Canfor currently has an average rating of “Moderate Buy” and an average price target of C$21.33.

Canfor Stock Down 3.5 %

The stock has a market cap of C$1.81 billion, a price-to-earnings ratio of -4.55 and a beta of 2.08. The business’s 50 day moving average is C$16.46 and its 200-day moving average is C$15.71. The company has a debt-to-equity ratio of 11.97, a quick ratio of 2.14 and a current ratio of 1.99.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.