Canfor (TSE:CFP) Downgraded to Outperform Rating by Raymond James Financial

Key Points

• Raymond James downgraded Canfor from "strong-buy" to "outperform" and set a C$17.00 price target, implying about a 33.9% upside from the prior close.
• Other analysts are mixed: Scotiabank bumped Canfor to a hold with a C$16 target while RBC cut it to a hold with a C$15 target, leaving a consensus rating of Moderate Buy and an average target of C$16.25.
• Canfor traded at C$12.70 with a C$1.49B market cap and reported a C($3.33) EPS last quarter (net margin -14.92%, ROE -27.04%), though analysts forecast about 0.40 EPS for the current fiscal year.

Canfor (TSE:CFP - Get Free Report) was downgraded by research analysts at Raymond James Financial from a "strong-buy" rating to an "outperform" rating in a note issued to investors on Friday,BayStreet.CA reports. They currently have a C$17.00 price objective on the stock. Raymond James Financial's price target suggests a potential upside of 33.86% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Scotiabank upgraded Canfor from a "strong sell" rating to a "hold" rating and upped their price target for the company from C$13.00 to C$16.00 in a research report on Monday, January 26th. Royal Bank Of Canada lowered Canfor from a "moderate buy" rating to a "hold" rating and set a C$15.00 price target on the stock. in a research report on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$16.25.

Canfor Price Performance

CFP stock traded up C$0.06 during midday trading on Friday, reaching C$12.70. 77,171 shares of the stock were exchanged, compared to its average volume of 203,802. The company has a fifty day moving average price of C$13.48 and a 200 day moving average price of C$12.91. Canfor has a 52 week low of C$10.86 and a 52 week high of C$16.08. The stock has a market capitalization of C$1.49 billion, a PE ratio of -1.87 and a beta of 1.28. The company has a debt-to-equity ratio of 37.16, a current ratio of 1.45 and a quick ratio of 2.14.

Canfor (TSE:CFP - Get Free Report) last released its quarterly earnings results on Friday, March 6th. The company reported C($3.33) EPS for the quarter. Canfor had a negative net margin of 14.92% and a negative return on equity of 27.04%. The company had revenue of C$1.28 billion during the quarter. As a group, analysts expect that Canfor will post 0.4005401 EPS for the current fiscal year.

About Canfor

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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