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

Canfor Co. (TSE:CFP) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.51 and traded as low as C$14.38. Canfor shares last traded at C$14.65, with a volume of 98,411 shares trading hands.

Analyst Upgrades and Downgrades

CFP has been the subject of several recent research reports. Royal Bank Of Canada dropped their price target on shares of Canfor from C$19.00 to C$16.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Cibc World Mkts lowered shares of Canfor from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Raymond James Financial dropped their price target on shares of Canfor from C$24.00 to C$22.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 30th. CIBC lowered shares of Canfor from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from C$19.00 to C$16.00 in a research report on Tuesday, April 22nd. Finally, TD Securities increased their price target on shares of Canfor from C$17.00 to C$18.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$18.50.

Canfor Trading Up 1.6%

The stock has a market capitalization of C$1.76 billion, a P/E ratio of -2.44 and a beta of 2.08. The company has a debt-to-equity ratio of 21.94, a current ratio of 2.19 and a quick ratio of 2.14. The business’s 50 day simple moving average is C$13.44 and its 200-day simple moving average is C$14.51.

Canfor Company Profile

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.