Canfor (TSE:CFP) Sets New 1-Year Low – Here’s What Happened

Shares of Canfor Co. (TSE:CFP) reached a new 52-week low during mid-day trading on Monday . The company traded as low as C$13.24 and last traded at C$13.52, with a volume of 19917 shares. The stock had previously closed at C$14.14.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Securities lowered their price objective on shares of Canfor from C$20.00 to C$19.00 and set a “buy” rating for the company in a report on Monday, March 10th. Royal Bank of Canada lowered their target price on Canfor from C$21.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. CIBC dropped their price target on Canfor from C$21.00 to C$19.00 in a research report on Wednesday, January 15th. Scotiabank lowered shares of Canfor from a “hold” rating to a “strong sell” rating in a research note on Monday, February 3rd. Finally, Raymond James cut their price target on Canfor from C$28.00 to C$24.00 in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$20.00.

Canfor Stock Performance

The business’s 50 day simple moving average is C$15.06 and its two-hundred day simple moving average is C$15.94. The firm has a market capitalization of C$1.61 billion, a P/E ratio of -2.22 and a beta of 2.08. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 21.94.

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.