Canfor (TSE:CFP) Director Acquires C$140,100.00 in Stock

Key Points

• Insider purchase: Canfor director Cheryl Anne-Marie Yaremko bought 10,000 shares at C$14.01 each, investing C$140,100 and increasing her ownership to 10,000 shares.
• Stock performance and finances: Canfor shares fell 2.2% to C$14.06. The company reported a quarterly loss of C$0.16 per share on C$1.53 billion in revenue, with negative net margin and return on equity.
• Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with an average price target of C$18.00; Raymond James and TD recently raised their targets to C$21.00 and C$20.00, respectively.

Canfor Co. (TSE:CFP - Get Free Report) Director Cheryl Anne-Marie Yaremko purchased 10,000 shares of the firm's stock in a transaction dated Thursday, October 8th. The stock was acquired at an average cost of C$14.01 per share, for a total transaction of C$140,100.00. Following the purchase, the director owned 10,000 shares in the company, valued at approximately C$140,100. The trade was a ∞ increase in their ownership of the stock.

Canfor Trading Down 2.2%

Shares of TSE CFP traded down C$0.32 during mid-day trading on Tuesday, reaching C$14.06. 289,960 shares of the company's stock were exchanged, compared to its average volume of 213,028. The firm has a market capitalization of C$1.65 billion, a price-to-earnings ratio of -2.52 and a beta of 1.05. The company has a debt-to-equity ratio of 41.78, a quick ratio of 2.14 and a current ratio of 1.35. Canfor Co. has a 52-week low of C$10.86 and a 52-week high of C$16.59. The company's 50-day moving average is C$15.06 and its 200-day moving average is C$13.98.

Canfor (TSE:CFP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C($0.16) earnings per share (EPS) for the quarter. The company had revenue of C$1.53 billion during the quarter. Canfor had a negative net margin of 12.04% and a negative return on equity of 25.37%. Analysts expect that Canfor Co. will post 0.40 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CFP shares. Raymond James Financial upgraded Canfor from a "moderate buy" rating to a "strong-buy" rating and upped their price target for the stock from C$17.00 to C$21.00 in a research note on Tuesday, September 15th. TD lifted their price objective on Canfor from C$18.00 to C$20.00 and gave the company a "buy" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$18.00.

About Canfor

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.