Scotiabank Upgrades Canfor (TSE:CFP) to “Sector Perform”

Canfor (TSE:CFP) was upgraded by research analysts at Scotiabank from an “underperform” rating to a “sector perform” rating in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a C$16.00 price target on the stock, up from their previous price target of C$13.00. Scotiabank’s target price indicates a potential upside of 6.60% from the stock’s current price.

Several other research analysts have also weighed in on CFP. Raymond James Financial raised Canfor from a “moderate buy” rating to a “strong-buy” rating and increased their target price for the stock from C$15.00 to C$17.00 in a research report on Wednesday, January 14th. Royal Bank Of Canada cut their price target on Canfor from C$16.00 to C$15.00 and set an “outperform” rating on the stock in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$16.20.

Canfor Stock Performance

Shares of Canfor stock traded up C$0.28 during trading on Monday, reaching C$15.01. The company’s stock had a trading volume of 263,127 shares, compared to its average volume of 231,880. The company has a 50-day moving average price of C$12.11 and a two-hundred day moving average price of C$12.71. Canfor has a fifty-two week low of C$10.86 and a fifty-two week high of C$16.22. The firm has a market cap of C$1.75 billion, a PE ratio of -3.77 and a beta of 2.00. 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 (TSE:CFP) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C($1.48) EPS for the quarter. The company had revenue of C$1.26 billion during the quarter. Canfor had a negative net margin of 13.77% and a negative return on equity of 20.05%. On average, analysts forecast that Canfor will post 0.4005401 EPS for the current year.

About Canfor

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.