Brokerages Set Canfor Co. (TSE:CFP) PT at C$18.50

Canfor Co. (TSE:CFP) has been assigned an average rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$18.50.

Several brokerages have recently commented on CFP. Cibc World Mkts downgraded shares of Canfor from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Royal Bank Of Canada dropped their target price on shares of Canfor from C$19.00 to C$16.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Raymond James Financial reduced their price target on Canfor from C$24.00 to C$22.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 30th. CIBC cut Canfor from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from C$19.00 to C$16.00 in a research note on Tuesday, April 22nd. Finally, TD Securities upped their price objective on Canfor from C$17.00 to C$18.00 and gave the company a “buy” rating in a report on Monday, May 12th.

Canfor Stock Up 2.3%

TSE CFP opened at C$14.42 on Friday. The stock has a market capitalization of C$1.73 billion, a P/E ratio of -2.40 and a beta of 2.08. Canfor has a 52 week low of C$12.60 and a 52 week high of C$18.38. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19. The stock has a fifty day moving average of C$13.44 and a 200-day moving average of C$14.53.

About Canfor

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.