Canfor (TSE:CFP) Share Price Passes Below Two Hundred Day Moving Average - Here's What Happened

Shares of Canfor Co. (TSE:CFP - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$15.13 and traded as low as C$13.61. Canfor shares last traded at C$13.70, with a volume of 180,027 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CFP shares. Raymond James lowered their price objective on shares of Canfor from C$24.00 to C$22.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 30th. CIBC lowered shares of Canfor from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from C$19.00 to C$16.00 in a research report on Tuesday, April 22nd. TD Securities increased their price objective on shares of Canfor from C$17.00 to C$18.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Scotiabank lowered shares of Canfor from a "hold" rating to a "strong sell" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of Canfor from C$19.00 to C$16.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of C$18.50.

Canfor Stock Up 0.8%

The company's fifty day moving average price is C$13.81 and its 200-day moving average price is C$15.02. The stock has a market cap of C$1.56 billion, a P/E ratio of -2.16 and a beta of 2.08. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19.

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.