Canfor (TSE:CFP) Downgraded by Scotiabank to Strong Sell

Canfor (TSE:CFP) was downgraded by analysts at Scotiabank from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Raymond James dropped their price objective on shares of Canfor from C$28.00 to C$24.00 in a research report on Thursday, January 30th. BMO Capital Markets lowered shares of Canfor from an “outperform” rating to a “market perform” rating in a research report on Friday, December 6th. CIBC lowered their price target on shares of Canfor from C$21.00 to C$19.00 in a research report on Wednesday, January 15th. Royal Bank of Canada lowered 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 research report on Friday, December 20th. Finally, TD Securities lowered their price target on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Canfor presently has a consensus rating of “Moderate Buy” and a consensus target price of C$20.33.

Canfor Stock Performance

Shares of CFP stock opened at C$14.96 on Monday. The stock has a market cap of C$1.77 billion, a P/E ratio of -4.44 and a beta of 2.08. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.99 and a quick ratio of 2.14. The company has a fifty day moving average price of C$15.67 and a two-hundred day moving average price of C$15.84. Canfor has a one year low of C$13.53 and a one year high of C$18.38.

Canfor Company Profile

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.