Canfor (TSE:CFP) had its price target raised by Raymond James from C$47.00 to C$53.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ target price points to a potential upside of 77.79% from the stock’s current price.
Other research analysts have also issued research reports about the company. TD Securities reiterated a “buy” rating on shares of Canfor in a report on Wednesday, September 15th. Scotiabank cut their price objective on Canfor from C$42.00 to C$40.00 in a research report on Monday, October 11th. CIBC reissued an “outperform” rating and set a C$35.00 price objective on shares of Canfor in a research report on Wednesday, October 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a C$45.00 price objective on shares of Canfor in a research report on Friday, September 10th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$41.33.
TSE:CFP traded down C$0.21 during midday trading on Monday, hitting C$29.81. The company’s stock had a trading volume of 173,090 shares, compared to its average volume of 374,032. The firm has a market cap of C$3.71 billion and a P/E ratio of 2.19. Canfor has a fifty-two week low of C$21.92 and a fifty-two week high of C$35.53. The firm’s 50 day moving average is C$27.95 and its 200-day moving average is C$27.21. The company has a debt-to-equity ratio of 8.43, a current ratio of 2.63 and a quick ratio of 1.67.
Canfor (TSE:CFP) last posted its quarterly earnings results on Tuesday, October 26th. The company reported C$1.69 EPS for the quarter, topping the consensus estimate of C$1.54 by C$0.15. The company had revenue of C$1.68 billion for the quarter. As a group, analysts forecast that Canfor will post 4.5900001 EPS for the current year.
About Canfor
Canfor Corporation operates as an integrated forest products company in Canada, Asia, the United States, Europe, and internationally. It operates through Lumber, and Pulp and Paper segments. The company manufactures and sells finger-jointed lumber, higher-grade MSR lumber, premium one-inch boards, engineered wood products, wood chips, wood pellets, logs, strength-rated trusses, beams, and tongue-and-groove timber, as well as generates green energy.