Canfor (TSE:CFP) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of Canfor Co. (TSE:CFP) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$13.70 and traded as high as C$14.82. Canfor shares last traded at C$14.66, with a volume of 112,049 shares traded.

Wall Street Analyst Weigh In

Separately, TD boosted their target price on shares of Canfor from C$18.00 to C$20.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$17.00.

Canfor Stock Performance

The stock has a market capitalization of C$1.72 billion, a P/E ratio of -2.63 and a beta of 1.41. The firm has a 50-day moving average of C$14.34 and a 200 day moving average of C$13.70. The company has a quick ratio of 2.14, a current ratio of 1.35 and a debt-to-equity ratio of 41.78.

Canfor (TSE:CFP) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C($0.16) earnings per share (EPS) for the quarter. Canfor had a negative net margin of 12.04% and a negative return on equity of 25.37%. The business had revenue of C$1.53 billion during the quarter. Research analysts anticipate that Canfor Co. will post 0.4005401 EPS for the current fiscal year.

Insiders Place Their Bets

In other Canfor news, insider Stephen Roche Mackie sold 4,052 shares of Canfor stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of C$16.00, for a total transaction of C$64,832.00. Following the sale, the insider directly owned 5,410 shares of the company’s stock, valued at approximately C$86,560. The trade was a 42.82% decrease in their ownership of the stock. Insiders own 53.92% of the company’s stock.

Canfor Company Profile

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.