Shares of Canfor Co. (TSE:CFP) reached a new 52-week high on Monday . The company traded as high as C$25.74 and last traded at C$25.56, with a volume of 309,580 shares trading hands. The stock had previously closed at C$24.14.
CFP has been the topic of a number of analyst reports. Raymond James Financial, Inc. upped their target price on shares of Canfor from C$24.00 to C$25.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 27th. Scotiabank upped their target price on shares of Canfor from C$20.50 to C$21.25 and gave the company an “outperform” rating in a research note on Thursday, July 27th. TD Securities upped their target price on shares of Canfor from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Royal Bank Of Canada upped their target price on shares of Canfor from C$17.00 to C$18.00 and gave the company an “underperform” rating in a research note on Friday, July 28th. Finally, BMO Capital Markets cut shares of Canfor from an “outperform” rating to a “market perform” rating in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of C$24.65.
The firm has a 50 day moving average of $23.56 and a 200 day moving average of $20.80. The stock has a market cap of $3.41 billion and a PE ratio of 14.44.
Canfor (TSE:CFP) last issued its earnings results on Wednesday, July 26th. The company reported C$0.78 EPS for the quarter, beating the consensus estimate of C$0.52 by C$0.26. The company had revenue of C$1.19 billion during the quarter. Canfor had a net margin of 7.67% and a return on equity of 20.50%. Equities analysts predict that Canfor Co. will post $1.71 EPS for the current fiscal year.
In other news, Director William W. Stinson bought 3,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was bought at an average cost of C$21.34 per share, for a total transaction of C$64,020.00. Also, insider James A. Pattison bought 225,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of C$21.20 per share, with a total value of C$4,770,000.00.
Canfor Company Profile
Canfor Corporation is an integrated forest products company. The Company produces softwood lumber, pulp and paper products, remanufactured lumber products, engineered wood products, wood pellets and energy. Its segments include lumber, and pulp and paper. Its lumber segment includes logging operations, and manufacturing and sale of various grades, widths and lengths of lumber, engineered wood products, wood chips and wood pellets.
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