TD Has Lowered Expectations for Canfor (TSE:CFP) Stock Price

Key Points

• TD lowered Canfor’s price target from C$20.00 to C$18.00 while maintaining a “buy” rating, implying 28.57% upside from the C$14.00 share price.
• Analyst sentiment remains generally positive: Raymond James upgraded Canfor to “strong buy” with a C$21.00 target, while the consensus rating is “moderate buy” with a C$17.50 target.
• Canfor reported a quarterly loss of C$0.16 per share, C$1.53 billion in revenue, and negative profitability metrics; meanwhile, an insider purchased 10,000 shares and insiders collectively own 53.92% of the company.

Canfor (TSE:CFP - Get Free Report) had its price objective reduced by investment analysts at TD from C$20.00 to C$18.00 in a report issued on Wednesday, BayStreet reports. The firm currently has a "buy" rating on the stock. TD's target price suggests a potential upside of 28.57% from the company's current price.

Separately, Raymond James Financial raised Canfor from a "moderate buy" rating to a "strong-buy" rating and upped their price target for the company from C$17.00 to C$21.00 in a report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Canfor currently has a consensus rating of "Moderate Buy" and a consensus price target of C$17.50.

Canfor Stock Performance

TSE CFP traded down C$0.06 during midday trading on Wednesday, hitting C$14.00. The company had a trading volume of 330,667 shares, compared to its average volume of 213,480. The company has a quick ratio of 2.14, a current ratio of 1.35 and a debt-to-equity ratio of 41.78. The stock has a market cap of C$1.64 billion, a price-to-earnings ratio of -2.51 and a beta of 1.05. The firm has a fifty day simple moving average of C$15.06 and a two-hundred day simple moving average of C$13.98. Canfor has a fifty-two week low of C$10.86 and a fifty-two week high of C$16.59.

Canfor (TSE:CFP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C($0.16) EPS for the quarter. Canfor had a negative net margin of 12.04% and a negative return on equity of 25.37%. The company had revenue of C$1.53 billion for the quarter. Equities analysts forecast that Canfor will post 0.40 earnings per share for the current fiscal year.

Insider Transactions at Canfor

In other Canfor news, Director Cheryl Anne-Marie Yaremko bought 10,000 shares of the firm's stock in a transaction dated Thursday, October 8th. The shares were acquired at an average cost of C$14.01 per share, for a total transaction of C$140,100.00. Following the transaction, the director owned 10,000 shares in the company, valued at approximately C$140,100. The trade was a ∞ increase in their ownership of the stock. Also, insider Stephen Roche Mackie sold 4,052 shares of Canfor stock in a transaction dated Monday, August 10th. The shares were sold at an average price of C$16.00, for a total transaction of C$64,832.00. Following the sale, the insider owned 5,410 shares in the company, valued at approximately C$86,560. This trade represents a 42.82% decrease in their ownership of the stock. 53.92% of the stock is currently owned by company insiders.

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.

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