Canfor Pulp Products (TSE:CFX) Share Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Canfor Pulp Products Inc. (TSE:CFX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.51 and traded as high as C$0.60. Canfor Pulp Products shares last traded at C$0.60, with a volume of 43,911 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Canfor Pulp Products from C$0.40 to C$0.50 and gave the stock a “sector perform” rating in a research note on Thursday, December 18th. Raymond James Financial cut shares of Canfor Pulp Products from a “moderate buy” rating to a “hold” rating and dropped their target price for the company from C$0.75 to C$0.50 in a report on Wednesday, January 14th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$0.58.

Canfor Pulp Products Stock Performance

The stock’s 50-day simple moving average is C$0.48 and its 200-day simple moving average is C$0.51. The company has a current ratio of 0.91, a quick ratio of 0.73 and a debt-to-equity ratio of 57.90. The stock has a market cap of C$39.14 million, a price-to-earnings ratio of -3.75, a price-to-earnings-growth ratio of -25.62 and a beta of 0.04.

Canfor Pulp Products (TSE:CFX) last released its earnings results on Wednesday, November 5th. The company reported C($0.19) earnings per share for the quarter. The company had revenue of C$164.60 million for the quarter. Canfor Pulp Products had a negative net margin of 21.46% and a negative return on equity of 60.52%. Analysts forecast that Canfor Pulp Products Inc. will post 0.12 earnings per share for the current fiscal year.

Canfor Pulp Products Company Profile

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.