Canfor (TSE:CFP) Stock Price Passes Below 200 Day Moving Average - Here's Why

Key Points

• Canfor's stock price has dipped below its 200-day moving average of C$13.71, trading as low as C$12.09, with the latest price at C$12.25.
• Analysts have downgraded the stock's rating with updated price targets, including Raymond James reducing their target from C$22.00 to C$19.00.
• The company's debt-to-equity ratio stands at 21.94, indicating a high level of debt compared to equity.

Shares of Canfor Co. (TSE:CFP - Get Free Report) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$13.71 and traded as low as C$12.09. Canfor shares last traded at C$12.25, with a volume of 141,797 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on CFP shares. Raymond James Financial downgraded shares of Canfor from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from C$22.00 to C$19.00 in a research note on Tuesday, July 22nd. TD Securities cut their target price 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. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of C$17.00.

Canfor Stock Down 0.1%

The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19. The company has a market cap of C$1.43 billion, a PE ratio of -2.24 and a beta of 2.24. The firm has a fifty day simple moving average of C$13.24 and a 200 day simple moving average of C$13.71.

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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