Canfor (TSE:CFP) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Canfor Co. (TSE:CFP) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$13.71 and traded as high as C$15.15. Canfor shares last traded at C$14.80, with a volume of 149,808 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CFP shares. TD boosted their price objective on Canfor from C$18.00 to C$20.00 and gave the company a “buy” rating in a report on Friday, July 31st. Raymond James Financial lowered Canfor from a “strong-buy” rating to an “outperform” rating and set a C$17.00 target price on the stock. in a report on Friday, April 24th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Canfor has an average rating of “Moderate Buy” and a consensus price target of C$17.00.

Canfor Stock Up 1.7%

The company has a debt-to-equity ratio of 41.78, a current ratio of 1.35 and a quick ratio of 2.14. The business’s fifty day simple moving average is C$14.30 and its two-hundred day simple moving average is C$13.72. The company has a market cap of C$1.77 billion, a PE ratio of -2.70 and a beta of 1.41.

Canfor (TSE:CFP) last posted its earnings results on Wednesday, July 29th. The company reported C($0.16) earnings per share (EPS) for the quarter. Canfor had a negative return on equity of 25.37% and a negative net margin of 12.04%.The firm had revenue of C$1.53 billion for the quarter. On average, analysts predict that Canfor Co. will post 0.4005401 earnings per share for the current year.

Insider Transactions at Canfor

In other Canfor news, insider Stephen Roche Mackie sold 4,052 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of C$16.00, for a total transaction of C$64,832.00. Following the transaction, the insider owned 5,410 shares in the company, valued at approximately C$86,560. This represents a 42.82% decrease in their ownership of the stock. Corporate insiders own 53.92% of the company’s stock.

Canfor Company Profile

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.