Canfor (TSE:CFP) Given New C$21.00 Price Target at CIBC

Canfor (TSE:CFP) had its target price trimmed by CIBC from C$22.00 to C$21.00 in a research report report published on Thursday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently commented on CFP. Raymond James downgraded shares of Canfor from a strong-buy rating to an outperform rating and dropped their price objective for the company from C$25.00 to C$23.00 in a research report on Tuesday, February 6th. Royal Bank of Canada dropped their target price on Canfor from C$22.00 to C$19.00 and set an outperform rating on the stock in a report on Friday, April 19th. TD Securities cut their price target on Canfor from C$22.00 to C$20.00 in a research note on Thursday. BMO Capital Markets lowered their price objective on Canfor from C$24.00 to C$22.00 in a research report on Wednesday, April 17th. Finally, Scotiabank set a C$22.00 target price on Canfor and gave the stock a sector perform rating in a research report on Monday, January 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of C$21.17.

Canfor Stock Down 0.9 %

CFP stock traded down C$0.14 during midday trading on Thursday, hitting C$14.80. The company’s stock had a trading volume of 146,435 shares, compared to its average volume of 189,269. Canfor has a 52-week low of C$13.41 and a 52-week high of C$23.99. The firm has a 50-day simple moving average of C$15.93 and a 200-day simple moving average of C$16.28. The company has a quick ratio of 2.14, a current ratio of 2.49 and a debt-to-equity ratio of 9.34. The firm has a market capitalization of C$1.76 billion, a P/E ratio of -5.46 and a beta of 2.16.

Canfor (TSE:CFP) last released its earnings results on Tuesday, March 5th. The company reported C($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.94) by C($0.12). Canfor had a negative net margin of 6.01% and a negative return on equity of 7.71%. The company had revenue of C$1.28 billion during the quarter. As a group, equities analysts forecast that Canfor will post 0.4005401 EPS for the current year.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.