Canfor Pulp Products (TSE:CFX) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Canfor Pulp Products Inc. (TSE:CFX)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$0.52 and traded as high as C$0.54. Canfor Pulp Products shares last traded at C$0.54, with a volume of 60,026 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial reduced their price objective on shares of Canfor Pulp Products from C$1.00 to C$0.75 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Royal Bank Of Canada raised their price target on Canfor Pulp Products from C$0.40 to C$0.50 and gave the company a “sector perform” rating in a research note on Thursday, December 18th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Canfor Pulp Products currently has an average rating of “Hold” and a consensus price target of C$0.67.

Canfor Pulp Products Stock Up 9.1%

The firm’s 50 day simple moving average is C$0.43 and its 200-day simple moving average is C$0.52. The company has a market cap of C$35.23 million, a price-to-earnings ratio of -3.38, a P/E/G ratio of -25.62 and a beta of 0.04. The company has a debt-to-equity ratio of 57.90, a current ratio of 0.91 and a quick ratio of 0.73.

Canfor Pulp Products (TSE:CFX) last announced its earnings results on Wednesday, November 5th. The company reported C($0.19) earnings per share (EPS) for the quarter. The firm had revenue of C$164.60 million during the quarter. Canfor Pulp Products had a negative net margin of 21.46% and a negative return on equity of 60.52%. As a group, sell-side analysts anticipate that Canfor Pulp Products Inc. will post 0.12 earnings per share for the current year.

About Canfor Pulp Products

Canfor Pulp Products Inc produces and sells northern bleached softwood kraft pulp, or NBSK pulp and paper. The company also generates and sells electricity from biomass out of its pulp plants in Western Canada. The firm organizes itself into two segments based on product: pulp and paper. The pulp segment generates most of the revenue. Canfor Pulp’s NBSK pulp customers are typically manufacturers of tissue paper, specialty paper, and printing and writing paper. Most of Canfor Pulp’s revenue comes from Asia.