Canfor (TSE:CFP) Reaches New 52-Week Low – Here’s Why

Canfor Co. (TSE:CFP)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$13.24 and last traded at C$13.52, with a volume of 19917 shares changing hands. The stock had previously closed at C$14.14.

Wall Street Analysts Forecast Growth

CFP has been the topic of a number of analyst reports. CIBC decreased their target price on shares of Canfor from C$21.00 to C$19.00 in a research report on Wednesday, January 15th. TD Securities decreased their price objective on Canfor from C$20.00 to C$19.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Scotiabank cut Canfor from a “hold” rating to a “strong sell” rating in a report on Monday, February 3rd. Royal Bank of Canada decreased their price target on Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Finally, Raymond James dropped their price objective on Canfor from C$28.00 to C$24.00 in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$20.00.

Canfor Trading Down 5.5 %

The firm has a market cap of C$1.61 billion, a PE ratio of -2.22 and a beta of 2.08. The firm has a fifty day simple moving average of C$15.06 and a two-hundred day simple moving average of C$15.94. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 21.94.

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.