Canfor (TSE:CFP) Hits New 52-Week Low - Here's Why

Key Points

• Canfor Co. hit a new 52-week low of C$12.29 during trading, with a last trading price of C$12.30.
• Analysts have expressed mixed sentiments, with TD Securities lowering their price target from C$18.00 to C$17.00, while Raymond James downgraded their rating from "strong-buy" to "outperform."
• Canfor's current market capitalization stands at C$1.44 billion, with a PE ratio of -2.25 and average target price among analysts of C$17.00.

Canfor Co. (TSE:CFP - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as C$12.29 and last traded at C$12.30, with a volume of 86574 shares trading hands. The stock had previously closed at C$12.65.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CFP. TD Securities reduced their price objective on shares of Canfor from C$18.00 to C$17.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. Raymond James Financial downgraded shares of Canfor from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from C$22.00 to C$19.00 in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Canfor currently has an average rating of "Hold" and an average target price of C$17.00.

Canfor Stock Down 2.8%

The business's 50-day moving average price is C$13.39 and its 200-day moving average price is C$13.80. The firm has a market capitalization of C$1.44 billion, a PE ratio of -2.25 and a beta of 2.24. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 21.94.

Canfor Company Profile

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.

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