BMO Capital Markets Downgrades Canfor (TSE:CFP) to Market Perform

Canfor (TSE:CFP) was downgraded by research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Friday,BayStreet.CA reports.

Several other research firms have also recently issued reports on CFP. TD Securities cut their target price on Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Raymond James upgraded shares of Canfor from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from C$20.00 to C$28.00 in a report on Tuesday, October 22nd. Finally, CIBC upped their target price on Canfor from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$21.33.

Canfor Trading Down 4.0 %

CFP stock traded down C$0.70 during midday trading on Friday, hitting C$16.90. The company had a trading volume of 215,523 shares, compared to its average volume of 198,156. The stock has a market cap of C$2.00 billion, a price-to-earnings ratio of -5.01 and a beta of 2.08. Canfor has a 52 week low of C$13.53 and a 52 week high of C$19.30. The company has a current ratio of 1.99, a quick ratio of 2.14 and a debt-to-equity ratio of 11.97. The stock’s 50 day moving average price is C$17.13 and its 200 day moving average price is C$15.66.

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.