Canfor (TSE:CFP) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Canfor Co. (TSE:CFP)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$15.84 and traded as low as C$14.81. Canfor shares last traded at C$15.04, with a volume of 149,663 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CFP. Scotiabank downgraded shares of Canfor from a “hold” rating to a “strong sell” rating in a report on Monday, February 3rd. Royal Bank of Canada decreased their price objective on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. CIBC decreased their price objective on shares of Canfor from C$21.00 to C$19.00 in a report on Wednesday, January 15th. Raymond James decreased their price objective on shares of Canfor from C$28.00 to C$24.00 in a report on Thursday, January 30th. Finally, BMO Capital Markets downgraded shares of Canfor from an “outperform” rating to a “market perform” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$20.33.

Canfor Trading Down 0.1 %

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 company has a market cap of C$1.81 billion, a price-to-earnings ratio of -2.50 and a beta of 2.08. The business’s 50-day simple moving average is C$15.12 and its 200-day simple moving average is C$15.84.

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.