Canfor (TSE:CFP) Upgraded at Scotiabank

Scotiabank upgraded shares of Canfor (TSE:CFP) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning, MarketBeat.com reports. The firm currently has C$16.00 price objective on the stock, up from their prior price objective of C$13.00.

Several other brokerages have also commented on CFP. Raymond James Financial raised Canfor from a “moderate buy” rating to a “strong-buy” rating and boosted their price objective for the stock from C$15.00 to C$17.00 in a report on Wednesday, January 14th. Royal Bank Of Canada dropped their target price on shares of Canfor from C$16.00 to C$15.00 and set an “outperform” rating for the company in a research report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$16.20.

Canfor Stock Up 1.2%

CFP opened at C$14.74 on Monday. The firm has a market capitalization of C$1.72 billion, a P/E ratio of -3.70 and a beta of 2.00. Canfor has a one year low of C$10.86 and a one year high of C$16.22. The company has a fifty day moving average price of C$12.31 and a 200-day moving average price of C$12.72. The company has a debt-to-equity ratio of 21.94, a current ratio of 2.19 and a quick ratio of 2.14.

Canfor (TSE:CFP) last posted its quarterly earnings data on Wednesday, November 5th. The company reported C($1.48) earnings per share (EPS) for the quarter. Canfor had a negative net margin of 13.77% and a negative return on equity of 20.05%. The business had revenue of C$1.26 billion for the quarter. Equities research analysts expect that Canfor will post 0.4005401 earnings per share for the current fiscal year.

About Canfor

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.