Canfor (TSE:CFP) Stock Crosses Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Canfor's stock (TSE:CFP) has crossed below its 200-day moving average, currently trading at C$12.66 against an average of C$13.60, raising concerns among investors.
• Analysts have issued mixed ratings; TD Securities reduced their price target from C$18.00 to C$17.00 while Raymond James lowered theirs from C$22.00 to C$19.00, resulting in an average rating of "Hold" for the stock.
• Canfor has a market cap of C$1.48 billion and has reported a negative P/E ratio of -2.32, indicating financial challenges affecting its valuation.

Shares of Canfor Co. (TSE:CFP - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.60 and traded as low as C$12.61. Canfor shares last traded at C$12.66, with a volume of 121,568 shares traded.

Analysts Set New Price Targets

A number of research firms have recently 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 on the stock in a research report on Tuesday, August 5th. Raymond James Financial cut Canfor from a "strong-buy" rating to an "outperform" rating and decreased their target price for the stock from C$22.00 to C$19.00 in a report on Tuesday, July 22nd. Three equities research 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of C$17.00.

Canfor Price Performance

The company has a market capitalization of C$1.48 billion, a P/E ratio of -2.32 and a beta of 2.01. The company has a 50 day moving average price of C$13.07 and a 200 day moving average price of C$13.60. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 21.94.

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.

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