Canfor (TSE:CFP) Shares Break Above Fifty Day Moving Average – What’s Next?

by · The Cerbat Gem

Canfor Co. (TSE:CFP – Get Free Report) shares crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of C$14.96 and traded as high as C$14.98. Canfor shares last traded at C$14.98, with a volume of 203,686 shares trading hands.

Analyst Upgrades and Downgrades

CFP has been the topic of a number of recent analyst reports. TD dropped their price target on shares of Canfor from C$20.00 to C$18.00 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Raymond James Financial upgraded shares of Canfor from a “moderate buy” rating to a “strong-buy” rating and increased their price objective for the company from C$17.00 to C$21.00 in a research report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Canfor currently has a consensus rating of “Moderate Buy” and an average target price of C$17.50.

Read Our Latest Stock Analysis on Canfor

Canfor Stock Performance

The company has a market cap of C$1.76 billion, a PE ratio of -2.68 and a beta of 1.05. The company has a debt-to-equity ratio of 41.78, a current ratio of 1.35 and a quick ratio of 2.14. The business has a 50-day moving average of C$14.96 and a 200 day moving average of C$14.07.

Insider Activity at Canfor

In related news, insider Stephen Roche Mackie sold 4,052 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of C$16.00, for a total transaction of C$64,832.00. Following the completion of the sale, the insider directly owned 5,410 shares in the company, valued at approximately C$86,560. The trade was a 42.82% decrease in their ownership of the stock. Also, Director Cheryl Anne-Marie Yaremko bought 10,000 shares of Canfor stock in a transaction on Thursday, October 8th. The shares were acquired at an average cost of C$14.01 per share, with a total value of C$140,100.00. Following the completion of the acquisition, the director owned 10,000 shares of the company’s stock, valued at C$140,100. The trade was a ∞ increase in their position. Insiders own 53.92% of the company’s stock.

Canfor Company Profile

(Get Free Report)

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.

Featured Articles