Canfor (TSE:CFP) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Canfor briefly crossed above its 200‑day moving average
• Analysts have been revising views upward overall—Raymond James bumped Canfor to a "strong‑buy" (C$17), Scotiabank upgraded to "hold" (C$16) and RBC cut its target to C$15 but kept an "outperform" rating—resulting in a MarketBeat consensus of "Moderate Buy" and an average price target of C$16.20.
• Underlying fundamentals are weak: the company reported quarterly EPS of C($3.33), a negative net margin of 14.92% and negative ROE of 27.04%, despite analyst forecasts calling for a return to positive EPS this year.

Canfor Co. (TSE:CFP - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$12.88 and traded as high as C$13.22. Canfor shares last traded at C$12.50, with a volume of 238,146 shares trading hands.

Analysts Set New Price Targets

CFP has been the topic of several research reports. Royal Bank Of Canada cut their target price on Canfor from C$16.00 to C$15.00 and set an "outperform" rating on the stock in a research report on Thursday, December 18th. Raymond James Financial raised Canfor from a "moderate buy" rating to a "strong-buy" rating and boosted their price target for the company from C$15.00 to C$17.00 in a research report on Wednesday, January 14th. Finally, Scotiabank upgraded Canfor from a "strong sell" rating to a "hold" rating and upped their price target for the stock from C$13.00 to C$16.00 in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$16.20.

Canfor Trading Down 1.9%

The firm's 50 day simple moving average is C$14.12 and its 200-day simple moving average is C$12.88. The company has a market capitalization of C$1.46 billion, a PE ratio of -1.84 and a beta of 1.54. The company has a quick ratio of 2.14, a current ratio of 1.45 and a debt-to-equity ratio of 37.16.

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

Canfor Company Profile

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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