Canfor (TSE:CFP) Stock Price Passes Below 200 Day Moving Average of $22.55

Canfor Co. (TSE:CFP – Get Rating)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$22.55 and traded as low as C$20.23. Canfor shares last traded at C$20.23, with a volume of 124,286 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CFP shares. TD Securities reduced their price objective on shares of Canfor from C$27.00 to C$26.00 and set a “buy” rating on the stock in a research report on Thursday, May 4th. CIBC reduced their price target on shares of Canfor from C$28.00 to C$27.00 in a research report on Friday, May 5th. Royal Bank of Canada reduced their price target on shares of Canfor from C$30.00 to C$27.00 and set an “outperform” rating on the stock in a research report on Friday, May 5th. Raymond James reduced their price target on shares of Canfor from C$34.00 to C$32.00 in a research report on Thursday, May 4th. Finally, Scotiabank reduced their price target on shares of Canfor from C$30.00 to C$29.00 in a research report on Thursday, May 4th.

Canfor Price Performance

The company has a quick ratio of 2.14, a current ratio of 3.47 and a debt-to-equity ratio of 8.24. The firm’s 50 day simple moving average is C$21.38 and its 200 day simple moving average is C$22.55. The company has a market capitalization of C$2.44 billion, a PE ratio of 21.52 and a beta of 2.07.

Canfor (TSE:CFP – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported C($1.04) EPS for the quarter, missing the consensus estimate of C($0.55) by C($0.49). The business had revenue of C$1.37 billion for the quarter. As a group, research analysts anticipate that Canfor Co. will post 0.755626 EPS for the current fiscal year.

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 through two segments, Lumber, and Pulp and Paper. The company manufactures and sells finger-jointed lumber, engineered wood products, wood chips and pellets, and logs, as well as custom specialty products, including strength-rated trusses, beams, and tongue-and-groove timber; and generates green energy.