Canfor Co. (TSE:CFP) Receives Consensus Recommendation of "Hold" from Brokerages

Canfor Co. (TSE:CFP - Get Free Report) has been assigned an average recommendation of "Hold" from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is C$18.50.

CFP has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price objective on Canfor from C$19.00 to C$16.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Cibc World Mkts downgraded shares of Canfor from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. CIBC downgraded shares of Canfor from an "outperform" rating to a "neutral" rating and lowered their target price for the company from C$19.00 to C$16.00 in a research note on Tuesday, April 22nd. Scotiabank lowered shares of Canfor from a "hold" rating to a "strong sell" rating in a report on Monday, February 3rd. Finally, Raymond James reduced their price target on Canfor from C$24.00 to C$22.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 30th.

Canfor Stock Up 3.2%

Shares of CFP traded up C$0.42 during mid-day trading on Wednesday, hitting C$13.42. The company's stock had a trading volume of 65,375 shares, compared to its average volume of 179,866. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 21.94. The company's 50-day moving average is C$13.76 and its 200-day moving average is C$15.00. Canfor has a 52-week low of C$12.60 and a 52-week high of C$18.38. The firm has a market capitalization of C$1.61 billion, a price-to-earnings ratio of -2.23 and a beta of 2.08.

About Canfor

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.