Canfor (TSE:CFP) Price Target Cut to C$18.00 by Analysts at TD

Canfor (TSE:CFP) had its target price reduced by TD from C$20.00 to C$18.00 in a research report issued on Wednesday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. TD’s price target indicates a potential upside of 28.57% from the company’s current price.

Separately, Raymond James Financial raised shares of Canfor from a “moderate buy” rating to a “strong-buy” rating and upped their target price for the stock from C$17.00 to C$21.00 in a report on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$17.50.

Canfor Price Performance

TSE:CFP traded down C$0.06 during trading hours on Wednesday, reaching C$14.00. The company had a trading volume of 330,667 shares, compared to its average volume of 213,480. The company has a quick ratio of 2.14, a current ratio of 1.35 and a debt-to-equity ratio of 41.78. The stock has a 50-day moving average of C$15.06 and a two-hundred day moving average of C$13.98. Canfor has a one year low of C$10.86 and a one year high of C$16.59. The firm has a market capitalization of C$1.64 billion, a PE ratio of -2.51 and a beta of 1.05.

Canfor (TSE:CFP) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C($0.16) earnings per share (EPS) for the quarter. Canfor had a negative net margin of 12.04% and a negative return on equity of 25.37%. The company had revenue of C$1.53 billion for the quarter. Analysts forecast that Canfor will post 0.40 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Stephen Roche Mackie sold 4,052 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of C$16.00, for a total transaction of C$64,832.00. Following the sale, the insider directly owned 5,410 shares in the company, valued at C$86,560. This represents a 42.82% decrease in their position. Also, Director Cheryl Anne-Marie Yaremko purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 8th. The shares were acquired at an average cost of C$14.01 per share, with a total value of C$140,100.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at approximately C$140,100. This represents a ∞ increase in their ownership of the stock. Insiders own 53.92% of the company’s stock.

Canfor Company Profile

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.