Canfor (TSE:CFP) Raised to Sector Perform at Scotiabank

Canfor (TSE:CFP) was upgraded by Scotiabank from an “underperform” rating to a “sector perform” rating in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a C$16.00 price target on the stock, up from their previous price target of C$13.00. Scotiabank’s price objective suggests a potential upside of 6.60% from the company’s current price.

A number of other research analysts have also recently issued reports on CFP. Raymond James Financial raised shares of Canfor from a “moderate buy” rating to a “strong-buy” rating and lifted their price target for the company from C$15.00 to C$17.00 in a research report on Wednesday, January 14th. Royal Bank Of Canada dropped their price target on Canfor from C$16.00 to C$15.00 and set an “outperform” rating on the stock in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Canfor currently has a consensus rating of “Moderate Buy” and an average price target of C$16.20.

Canfor Stock Up 1.9%

CFP traded up C$0.28 on Monday, hitting C$15.01. The company had a trading volume of 263,127 shares, compared to its average volume of 231,880. The stock has a fifty day simple moving average of C$12.11 and a 200-day simple moving average of C$12.71. The company has a debt-to-equity ratio of 21.94, a current ratio of 2.19 and a quick ratio of 2.14. The firm has a market capitalization of C$1.75 billion, a P/E ratio of -3.77 and a beta of 2.00. Canfor has a 52-week low of C$10.86 and a 52-week high of C$16.22.

Canfor (TSE:CFP) last released its earnings results on Wednesday, November 5th. The company reported C($1.48) EPS for the quarter. The firm had revenue of C$1.26 billion during the quarter. Canfor had a negative net margin of 13.77% and a negative return on equity of 20.05%. As a group, equities analysts expect that Canfor will post 0.4005401 EPS for the current fiscal year.

Canfor Company Profile

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.