Canfor (TSE:CFP) Reaches New 1-Year High – Time to Buy?

Canfor Co. (TSE:CFP) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$16.49 and last traded at C$16.31, with a volume of 104975 shares trading hands. The stock had previously closed at C$15.62.

Wall Street Analysts Forecast Growth

Separately, TD increased their price objective on shares of Canfor from C$18.00 to C$20.00 and gave the company a “buy” rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Canfor currently has an average rating of “Moderate Buy” and an average target price of C$17.00.

Canfor Price Performance

The company has a market cap of C$1.90 billion, a P/E ratio of -2.90 and a beta of 1.39. The firm’s 50-day moving average is C$14.53 and its two-hundred day moving average is C$13.68. The company has a debt-to-equity ratio of 41.78, a current ratio of 1.35 and a quick ratio of 2.14.

Canfor (TSE:CFP) last released its quarterly earnings data on Wednesday, July 29th. The company reported C($0.16) EPS for the quarter. Canfor had a negative net margin of 12.04% and a negative return on equity of 25.37%. The business had revenue of C$1.53 billion for the quarter. Analysts anticipate that Canfor Co. will post 0.4005401 earnings per share for the current year.

Insider Activity

In other news, insider Stephen Roche Mackie sold 4,052 shares of Canfor stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of C$16.00, for a total value of C$64,832.00. Following the completion of the transaction, the insider owned 5,410 shares in the company, valued at approximately C$86,560. The trade was a 42.82% decrease in their position. 53.92% of the stock is owned by insiders.

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.