Canfor (OTCMKTS:CFPZF) Stock Crosses Above 50-Day Moving Average – What’s Next?

Canfor Co. (OTCMKTS:CFPZF)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $9.43 and traded as high as $9.80. Canfor shares last traded at $9.80, with a volume of 20,873 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada downgraded Canfor to a “sector perform” rating in a report on Thursday, April 16th. Raymond James Financial cut Canfor from a “strong-buy” rating to an “outperform” rating in a report on Thursday, April 23rd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Canfor Stock Performance

The business has a 50-day moving average price of $9.43 and a two-hundred day moving average price of $9.59.

About Canfor

Canfor Corporation is a Canada-based integrated forest products company headquartered in Vancouver, British Columbia. The company’s primary business activities include the manufacturing and distribution of softwood lumber, oriented strand board (OSB), and other wood products used in residential and commercial construction. In addition to its core lumber operations, Canfor produces northern bleached softwood kraft (NBSK) pulp, specialty papers and biofuels through its pulp and paper facilities, providing a vertically integrated offering for customers across multiple end markets.

Canfor operates an extensive network of manufacturing facilities, including lumber mills in British Columbia and Alberta, as well as in the U.S.