Canfor (TSE:CFP) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Canfor Co. (TSE:CFP)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$15.85 and traded as low as C$15.04. Canfor shares last traded at C$15.16, with a volume of 179,383 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Royal Bank of Canada decreased their price target 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. BMO Capital Markets lowered Canfor from an “outperform” rating to a “market perform” rating in a research report on Friday, December 6th. CIBC dropped their price objective on Canfor from C$21.00 to C$19.00 in a research note on Wednesday, January 15th. Scotiabank downgraded Canfor from a “hold” rating to a “strong sell” rating in a research note on Monday, February 3rd. Finally, TD Securities reduced their price objective on Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$20.33.

Canfor Stock Performance

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 has a 50-day simple moving average of C$15.18 and a 200 day simple moving average of C$15.84. The firm has a market cap of C$1.80 billion, a PE ratio of -2.49 and a beta of 2.08.

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.