Canfor (TSE:CFP) Rating Increased to Strong-Buy at Raymond James Financial

Canfor (TSE:CFP) was upgraded by research analysts at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, BayStreet reports. The brokerage presently has a C$21.00 price target on the stock, up from their previous price target of C$17.00. Raymond James Financial’s target price suggests a potential upside of 32.58% from the company’s previous close.

Separately, TD lifted their price objective on shares of Canfor from C$18.00 to C$20.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.00.

Canfor Trading Up 1.4%

CFP traded up C$0.22 during mid-day trading on Tuesday, hitting C$15.84. The stock had a trading volume of 248,103 shares, compared to its average volume of 201,650. The stock’s fifty day simple moving average is C$14.53 and its 200-day simple moving average is C$13.68. The company has a debt-to-equity ratio of 41.78, a current ratio of 1.35 and a quick ratio of 2.14. The firm has a market capitalization of C$1.86 billion, a price-to-earnings ratio of -2.84 and a beta of 1.39. Canfor has a 1-year low of C$10.86 and a 1-year high of C$16.49.

Canfor (TSE:CFP) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C($0.16) earnings per share (EPS) for the quarter. Canfor had a negative return on equity of 25.37% and a negative net margin of 12.04%.The company had revenue of C$1.53 billion for the quarter. As a group, research analysts forecast that Canfor will post 0.4005401 EPS for the current fiscal year.

Insider Activity at Canfor

In related news, insider Stephen Roche Mackie sold 4,052 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of C$16.00, for a total transaction of C$64,832.00. Following the completion of the sale, the insider owned 5,410 shares of the company’s stock, valued at C$86,560. This represents a 42.82% decrease in their ownership of the stock. Insiders own 53.92% of the company’s stock.

About Canfor

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.