Canfor (TSE:CFP) Reaches New 1-Year High – Time to Buy?

Canfor Co. (TSE:CFP) shares hit a new 52-week high on Tuesday . The stock traded as high as C$16.49 and last traded at C$16.31, with a volume of 104975 shares trading hands. The stock had previously closed at C$15.62.

Wall Street Analysts Forecast Growth

Separately, TD lifted their price target on shares of Canfor from C$18.00 to C$20.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$17.00.

Canfor Stock Performance

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 fifty day moving average price of C$14.53 and a two-hundred day moving average price of C$13.68. The stock has a market capitalization of C$1.90 billion, a PE ratio of -2.90 and a beta of 1.39.

Canfor (TSE:CFP) last issued its quarterly earnings results 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 business had revenue of C$1.53 billion for the quarter. Research analysts expect that Canfor Co. will post 0.4005401 EPS for the current year.

Insider Buying and Selling at Canfor

In other news, insider Stephen Roche Mackie sold 4,052 shares of Canfor stock in a transaction on Monday, August 10th. The stock was 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 directly owned 5,410 shares in the company, valued at approximately C$86,560. This trade represents a 42.82% decrease in their ownership of the stock. Company 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.