Cibc World Mkts Downgrades Canfor (TSE:CFP) to Hold

Canfor (TSE:CFP) was downgraded by stock analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on CFP. Raymond James reduced their price objective on shares of Canfor from C$28.00 to C$24.00 in a research report on Thursday, January 30th. TD Securities decreased their price target on shares of Canfor from C$19.00 to C$17.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Scotiabank lowered Canfor from a “hold” rating to a “strong sell” rating in a research report on Monday, February 3rd. Royal Bank of Canada decreased their target price on Canfor from C$19.00 to C$16.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, CIBC downgraded Canfor from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from C$19.00 to C$16.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$18.67.

Canfor Stock Performance

TSE:CFP opened at C$12.81 on Tuesday. The stock has a 50-day moving average price of C$14.58 and a 200 day moving average price of C$15.61. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 21.94. Canfor has a 12-month low of C$12.60 and a 12-month high of C$18.38. The stock has a market capitalization of C$1.54 billion, a P/E ratio of -2.13 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.