Canfor (TSE:CFP) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Canfor Co. (TSE:CFP)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$15.84 and traded as low as C$14.81. Canfor shares last traded at C$15.04, with a volume of 149,663 shares changing hands.

Wall Street Analyst Weigh In

CFP has been the subject of a number of analyst reports. Royal Bank of Canada cut their price objective on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. BMO Capital Markets lowered shares of Canfor from an “outperform” rating to a “market perform” rating in a research report on Friday, December 6th. TD Securities cut their price objective on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Scotiabank lowered shares of Canfor from a “hold” rating to a “strong sell” rating in a research report on Monday, February 3rd. Finally, CIBC cut their price objective on shares of Canfor from C$21.00 to C$19.00 in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$20.33.

Canfor Trading Down 0.1 %

The business’s fifty day moving average is C$15.12 and its 200-day moving average is C$15.84. The stock has a market capitalization of C$1.81 billion, a PE ratio of -2.50 and a beta of 2.08. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 21.94.

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.