CIBC downgraded shares of Canfor (TSE:CFP - Free Report) from an outperform rating to a neutral rating in a research report released on Tuesday morning,BayStreet.CA reports. They currently have C$16.00 price objective on the stock, down from their prior price objective of C$19.00.
A number of other analysts have also recently commented on CFP. TD Securities dropped their target price on shares of Canfor from C$19.00 to C$17.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Raymond James cut their price objective on shares of Canfor from C$28.00 to C$24.00 in a report on Thursday, January 30th. Finally, Scotiabank lowered shares of Canfor from a "hold" rating to a "strong sell" rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of C$18.67.
View Our Latest Stock Report on CFP
Canfor Stock Up 1.9 %
Shares of CFP traded up C$0.24 on Tuesday, reaching C$13.02. The stock had a trading volume of 207,991 shares, compared to its average volume of 189,221. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19. Canfor has a 12-month low of C$12.60 and a 12-month high of C$18.38. The firm has a market capitalization of C$1.57 billion, a price-to-earnings ratio of -2.17 and a beta of 2.08. The company has a 50-day simple moving average of C$14.44 and a 200-day simple moving average of C$15.54.
About Canfor
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Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.
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