Canfor (TSE:CFP) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Canfor (TSE:CFP) from a moderate buy rating to a strong-buy rating in a research note published on Tuesday, MarketBeat.com reports. They currently have C$21.00 price objective on the stock, up from their prior price objective of C$17.00.

Separately, TD upped their price target on Canfor from C$18.00 to C$20.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$18.00.

Canfor Trading Down 1.3%

Shares of CFP stock opened at C$16.03 on Tuesday. The stock has a market capitalization of C$1.88 billion, a price-to-earnings ratio of -2.87 and a beta of 1.39. The company’s fifty day simple moving average is C$14.68 and its two-hundred day simple moving average is C$13.73. Canfor has a 1 year low of C$10.86 and a 1 year high of C$16.59. The company has a debt-to-equity ratio of 41.78, a current ratio of 1.35 and a quick ratio of 2.14.

Canfor (TSE:CFP) last released its quarterly earnings data on Wednesday, July 29th. The company reported C($0.16) earnings per share (EPS) for the quarter. The company had revenue of C$1.53 billion for the quarter. Canfor had a negative net margin of 12.04% and a negative return on equity of 25.37%. As a group, analysts anticipate that Canfor will post 0.4005401 earnings per share for the current year.

Insider Buying and Selling

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

About Canfor

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.