Canfor (TSE:CFP) Cut to "Hold" at Cibc World Mkts

Cibc World Mkts downgraded shares of Canfor (TSE:CFP - Free Report) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on CFP. 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. TD Securities dropped their target price on Canfor from C$19.00 to C$17.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. CIBC lowered Canfor from an "outperform" rating to a "neutral" rating and reduced their target price for the company from C$19.00 to C$16.00 in a research report on Tuesday, April 22nd. Scotiabank downgraded Canfor from a "hold" rating to a "strong sell" rating in a report on Monday, February 3rd. Finally, Raymond James dropped their price objective on shares of Canfor from C$28.00 to C$24.00 in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Canfor currently has a consensus rating of "Hold" and an average price target of C$18.67.

Canfor Price Performance

Shares of Canfor stock traded up C$0.13 on Tuesday, hitting C$13.15. 54,044 shares of the company traded hands, compared to its average volume of 187,509. 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 business has a 50-day simple moving average of C$14.44 and a 200 day simple moving average of C$15.53. Canfor has a 52 week low of C$12.60 and a 52 week high of C$18.38. The stock has a market capitalization of C$1.58 billion, a P/E ratio of -2.19 and a beta of 2.08.

Canfor Company Profile

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.