Canfor (TSE:CFP) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Canfor Co. (TSE:CFP)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$12.92 and traded as high as C$13.69. Canfor shares last traded at C$13.49, with a volume of 221,486 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CFP shares. Royal Bank Of Canada lowered shares of 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 target on the stock. in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$16.25.

Canfor Trading Up 4.7%

The firm has a market cap of C$1.66 billion, a P/E ratio of -1.98 and a beta of 1.41. The firm’s fifty day moving average is C$12.85 and its two-hundred day moving average is C$12.93. The company has a quick ratio of 2.14, a current ratio of 1.32 and a debt-to-equity ratio of 43.49.

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

Canfor Company Profile

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.