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

Shares of Canfor Co. (TSE:CFP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$12.84 and traded as high as C$13.69. Canfor shares last traded at C$13.58, with a volume of 131,425 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CFP shares. Raymond James Financial upgraded Canfor from a “moderate buy” rating to a “strong-buy” rating and lifted their price objective for the company from C$15.00 to C$17.00 in a report on Wednesday, January 14th. Royal Bank Of Canada reduced their price target on shares of Canfor from C$16.00 to C$15.00 and set an “outperform” rating for the company in a report on Thursday, December 18th. Finally, Scotiabank upgraded shares of Canfor from a “strong sell” rating to a “hold” rating and increased their price objective for the company from C$13.00 to C$16.00 in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$16.20.

Canfor Price Performance

The firm has a market capitalization of C$1.58 billion, a P/E ratio of -3.41 and a beta of 2.01. The stock’s fifty day simple moving average is C$13.59 and its 200 day simple moving average is C$12.84. The company has a debt-to-equity ratio of 21.94, a current ratio of 2.19 and a quick ratio of 2.14.

About Canfor

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.