Canfor (CFP) Trading Up 2.8%
Shares of Canfor Co. (TSE:CFP) were up 2.8% during trading on Thursday . The company traded as high as C$17.49 and last traded at C$17.41. Approximately 561,788 shares changed hands during trading, an increase of 39% from the average daily volume of 403,240 shares. The stock had previously closed at C$16.93.
A number of analysts have commented on CFP shares. CIBC decreased their price target on shares of Canfor from C$37.00 to C$33.00 in a research note on Wednesday, September 19th. BMO Capital Markets cut their price target on shares of Canfor from C$27.00 to C$22.00 in a report on Friday, October 19th. Royal Bank of Canada cut their price target on shares of Canfor from C$36.00 to C$29.00 and set an “outperform” rating on the stock in a report on Friday, November 16th. Finally, Raymond James raised shares of Canfor from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from C$32.00 to C$35.00 in a report on Friday, November 16th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of C$30.50.
The company has a debt-to-equity ratio of 16.07, a quick ratio of 1.40 and a current ratio of 2.61.
In other Canfor news, insider Corporation Canfor acquired 75,729 shares of the company’s stock in a transaction on Monday, November 19th. The shares were acquired at an average cost of C$18.37 per share, with a total value of C$1,391,141.73. Also, Director Peter John Gerald Bentley acquired 10,000 shares of the company’s stock in a transaction on Monday, November 26th. The shares were acquired at an average cost of C$19.07 per share, for a total transaction of C$190,700.00. Insiders purchased a total of 92,014 shares of company stock worth $1,687,401 over the last three months.
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About Canfor (TSE:CFP)
Canfor Corporation operates as an integrated forest products company in Canada, Asia, the United States, Europe, and internationally. It operates through Lumber, and Pulp and Paper segments. The company manufactures and sells remanufactured and finger-jointed lumber, engineered wood products, wood chips, wood pellets, and logs, as well as produces green energy.
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