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

Canfor Co. (TSE:CFP)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$12.81 and traded as high as C$15.16. Canfor shares last traded at C$14.75, with a volume of 103,812 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CFP. Raymond James Financial raised Canfor from a “moderate buy” rating to a “strong-buy” rating and increased their price objective for the stock from C$15.00 to C$17.00 in a research note on Wednesday, January 14th. Royal Bank Of Canada decreased their price objective on Canfor from C$16.00 to C$15.00 and set an “outperform” rating for the company in a report on Thursday, December 18th. Finally, Scotiabank upgraded shares of Canfor from a “strong sell” rating to a “hold” rating and increased their target price for the stock from C$13.00 to C$16.00 in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canfor has an average rating of “Moderate Buy” and a consensus price target of C$16.20.

Canfor Trading Down 1.3%

The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 21.94. The stock has a market capitalization of C$1.72 billion, a P/E ratio of -3.71 and a beta of 2.01. The company has a 50-day moving average price of C$13.29 and a 200 day moving average price of C$12.81.

Canfor Company Profile

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.