Canfor (OTCMKTS:CFPZF) Shares Break Below 200-Day Moving Average – Here’s What Happened

Shares of Canfor Co. (OTCMKTS:CFPZF) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $10.14 and traded as low as $9.78. Canfor shares last traded at $10.1330, with a volume of 20,502 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CFPZF shares. TD Securities reissued a “buy” rating on shares of Canfor in a research report on Friday, July 31st. Raymond James Financial raised Canfor from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, September 15th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Canfor in a research report on Friday, July 31st. BMO Capital Markets restated a “market perform” rating on shares of Canfor in a research note on Thursday, August 13th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Canfor in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Canfor presently has a consensus rating of “Moderate Buy”.

Canfor Price Performance

The stock’s fifty day moving average is $10.66 and its 200-day moving average is $10.14.

About Canfor

Canfor Corporation is a Canadian forest products company that manufactures and sells lumber, pulp, paper, and related wood products. Its lumber portfolio includes dimension lumber and specialty products made from species such as spruce, pine, fir, and southern yellow pine, serving residential construction, industrial, packaging, and other end markets.

The company operates sawmills and manufacturing facilities in Canada and the United States, along with additional international operations and sales channels.