Canfor (TSE:CFP) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Canfor Co. (TSE:CFP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$12.84 and traded as high as C$13.69. Canfor shares last traded at C$13.58, with a volume of 131,425 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CFP shares. Raymond James Financial raised shares of Canfor from a “moderate buy” rating to a “strong-buy” rating and lifted their target price for the stock from C$15.00 to C$17.00 in a research note on Wednesday, January 14th. Royal Bank Of Canada lowered their price objective on Canfor from C$16.00 to C$15.00 and set an “outperform” rating for the company in a research report on Thursday, December 18th. Finally, Scotiabank upgraded Canfor from a “strong sell” rating to a “hold” rating and lifted their target price for the company from C$13.00 to C$16.00 in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Canfor has an average rating of “Moderate Buy” and a consensus price target of C$16.20.

Canfor Price Performance

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’s 50-day moving average is C$13.65 and its two-hundred day moving average is C$12.85. The stock has a market cap of C$1.60 billion, a PE ratio of -3.45 and a beta of 2.01.

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.