Royal Bank of Canada lowered shares of Canfor (TSE:CFP) from an outperform rating to a sector perform rating in a research report report published on Wednesday morning, BayStreet.CA reports. Royal Bank of Canada currently has C$16.00 price target on the stock, down from their previous price target of C$17.00.
CFP has been the topic of several other research reports. TD Securities lowered shares of Canfor from a buy rating to a hold rating and raised their target price for the company from C$12.50 to C$16.00 in a research note on Tuesday, August 13th. CIBC raised shares of Canfor from a neutral rating to an outperform rating and raised their target price for the company from C$11.00 to C$14.00 in a research note on Tuesday, June 18th. Finally, Raymond James reissued an outperform rating and set a C$18.00 price objective on shares of Canfor in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of C$16.80.
Shares of TSE CFP opened at C$15.56 on Wednesday. The firm has a market capitalization of $1.94 billion and a PE ratio of -30.10. The company has a current ratio of 1.50, a quick ratio of 0.49 and a debt-to-equity ratio of 47.73. Canfor has a 1 year low of C$8.55 and a 1 year high of C$21.97. The firm’s 50-day moving average is C$15.36 and its 200-day moving average is C$12.48.
Canfor Corporation operates as an integrated forest products company in Canada and internationally. It operates through two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, pulp and paper products, remanufactured lumber products, engineered wood products, and wood pellets, as well as produces green energy.
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