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

Key Points

• Canfor's stock price reached a new 52-week low of C$12.09 during trading, closing slightly higher at C$12.25, indicating ongoing market challenges for the company.
• Analysts have lowered their price targets for Canfor, with TD Securities decreasing their target from C$18.00 to C$17.00, while Raymond James cut their estimate from C$22.00 to C$19.00.
• Despite the downturn, there is a mixed outlook with three analysts rating Canfor stock as a Buy, three as Hold, and one as Sell, reflecting uncertainty in its performance.

Canfor Co. (TSE:CFP - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$12.09 and last traded at C$12.25, with a volume of 141797 shares trading hands. The stock had previously closed at C$12.26.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CFP. TD Securities lowered their price objective on 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 cut Canfor from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from C$22.00 to C$19.00 in a research note on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Canfor has an average rating of "Hold" and an average price target of C$17.00.

Canfor Stock Down 0.1%

The company has a 50 day moving average price of C$13.24 and a two-hundred day moving average price of C$13.71. The company has a debt-to-equity ratio of 21.94, a current ratio of 2.19 and a quick ratio of 2.14. The stock has a market cap of C$1.43 billion, a PE ratio of -2.24 and a beta of 2.24.

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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