Canfor (OTCMKTS:CFPZF) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Canfor Co. (OTCMKTS:CFPZF) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.36 and traded as low as $8.85. Canfor shares last traded at $8.8540, with a volume of 27,418 shares traded.

Wall Street Analyst Weigh In

Several brokerages have commented on CFPZF. Raymond James Financial lowered shares of Canfor from a “strong-buy” rating to an “outperform” rating in a report on Thursday, April 23rd. Royal Bank Of Canada lowered shares of Canfor to a “sector perform” rating in a report on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Canfor Price Performance

The company’s 50 day moving average is $9.49 and its 200-day moving average is $9.36.

Canfor Company Profile

Canfor Corporation is a Canada-based integrated forest products company headquartered in Vancouver, British Columbia. The company’s primary business activities include the manufacturing and distribution of softwood lumber, oriented strand board (OSB), and other wood products used in residential and commercial construction. In addition to its core lumber operations, Canfor produces northern bleached softwood kraft (NBSK) pulp, specialty papers and biofuels through its pulp and paper facilities, providing a vertically integrated offering for customers across multiple end markets.

Canfor operates an extensive network of manufacturing facilities, including lumber mills in British Columbia and Alberta, as well as in the U.S.