Canfor (TSE:CFP) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Canfor Co. (TSE:CFP)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$15.85 and traded as low as C$15.04. Canfor shares last traded at C$15.16, with a volume of 179,383 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CFP shares. Royal Bank of Canada decreased their price target on Canfor from C$21.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. CIBC cut their price target on Canfor from C$21.00 to C$19.00 in a report on Wednesday, January 15th. TD Securities cut their price target on Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Raymond James cut their price target on Canfor from C$28.00 to C$24.00 in a report on Thursday, January 30th. Finally, Scotiabank downgraded Canfor from a “hold” rating to a “strong sell” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$20.33.

Canfor Trading Down 2.0 %

The company has a 50 day moving average of C$15.18 and a two-hundred day moving average of C$15.84. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19. The stock has a market capitalization of C$1.80 billion, a PE ratio of -2.49 and a beta of 2.08.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.