Canfor (TSE:CFP) Shares Pass Above 200 Day Moving Average – Time to Sell?

Canfor Co. (TSE:CFP)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$13.37 and traded as high as C$13.72. Canfor shares last traded at C$13.58, with a volume of 41,702 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CFP shares. Royal Bank Of Canada cut Canfor from a “moderate buy” rating to a “hold” rating and set a C$15.00 price target on the stock. in a report on Thursday, April 16th. Raymond James Financial lowered shares of Canfor from a “strong-buy” rating to an “outperform” rating and set a C$17.00 price objective for the company. in a report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$16.25.

Canfor Stock Performance

The stock has a 50 day moving average of C$13.23 and a 200 day moving average of C$13.37. The company has a quick ratio of 2.14, a current ratio of 1.32 and a debt-to-equity ratio of 43.49. The company has a market capitalization of C$1.59 billion, a price-to-earnings ratio of -1.90 and a beta of 1.37.

Canfor (TSE:CFP) last announced its earnings results on Wednesday, May 6th. The company reported C($0.62) EPS for the quarter. The company had revenue of C$1.36 billion during the quarter. Canfor had a negative net margin of 15.87% and a negative return on equity of 30.75%. As a group, analysts predict that Canfor Co. will post 0.4005401 EPS for the current year.

About Canfor

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.