Raymond James Cuts Canfor (TSE:CFP) Price Target to C$24.00

Canfor (TSE:CFP) had its target price lowered by analysts at Raymond James from C$28.00 to C$24.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Raymond James’ target price indicates a potential upside of 57.48% from the stock’s current price.

A number of other equities research analysts have also issued reports on CFP. BMO Capital Markets lowered shares of Canfor from an “outperform” rating to a “market perform” rating in a report on Friday, December 6th. Royal Bank of Canada cut their price target on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. TD Securities dropped their target price on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, CIBC dropped their target price on shares of Canfor from C$21.00 to C$19.00 in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Canfor has an average rating of “Moderate Buy” and a consensus target price of C$20.33.

Canfor Trading Up 1.5 %

Shares of CFP stock traded up C$0.23 on Thursday, hitting C$15.24. 7,649 shares of the company’s stock traded hands, compared to its average volume of 137,587. The company has a debt-to-equity ratio of 11.97, a quick ratio of 2.14 and a current ratio of 1.99. Canfor has a one year low of C$13.53 and a one year high of C$18.38. The company’s fifty day simple moving average is C$15.93 and its 200 day simple moving average is C$15.80. The stock has a market capitalization of C$1.80 billion, a price-to-earnings ratio of -4.52 and a beta of 2.08.

Canfor (TSE:CFP) last released its earnings results on Friday, October 25th. The company reported C($1.65) EPS for the quarter, missing the consensus estimate of C($1.10) by C($0.55). Canfor had a negative net margin of 7.39% and a negative return on equity of 9.65%. During the same quarter in the prior year, the business posted ($0.16) EPS. Equities analysts forecast that Canfor will post 0.4005401 EPS for the current year.

About Canfor

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.