Canfor (CFP) Trading 2.8% Higher

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Canfor Co. (TSE:CFP) traded up 2.8% during mid-day trading on Thursday . The stock traded as high as C$17.49 and last traded at C$17.41. 561,788 shares changed hands during trading, an increase of 39% from the average session volume of 403,240 shares. The stock had previously closed at C$16.93.

Several equities research analysts recently issued reports on the stock. CIBC decreased their price target on shares of Canfor from C$25.00 to C$23.00 in a report on Monday, October 29th. Royal Bank of Canada decreased their price target on shares of Canfor from C$36.00 to C$29.00 and set an “outperform” rating on the stock in a report on Friday, November 16th. Raymond James raised shares of Canfor from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from C$32.00 to C$35.00 in a report on Friday, November 16th. Finally, BMO Capital Markets decreased their price target on shares of Canfor from C$27.00 to C$22.00 in a report on Friday, October 19th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of C$30.50.

The company has a current ratio of 2.61, a quick ratio of 1.40 and a debt-to-equity ratio of 16.07.

Canfor (TSE:CFP) last announced its quarterly earnings results on Wednesday, October 24th. The company reported C$1.23 earnings per share (EPS) for the quarter. The company had revenue of C$1.32 billion for the quarter. As a group, equities research analysts forecast that Canfor Co. will post 1.87000001590136 earnings per share for the current year.

In other Canfor news, Director John Russell Baird bought 5,985 shares of the business’s stock in a transaction that occurred on Wednesday, December 5th. The shares were acquired at an average cost of C$16.71 per share, for a total transaction of C$100,009.35. Also, insider Corporation Canfor bought 75,729 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The shares were acquired at an average price of C$18.37 per share, for a total transaction of C$1,391,141.73. Insiders have purchased a total of 92,014 shares of company stock worth $1,687,401 over the last ninety days.

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Canfor Company Profile (TSE:CFP)

Canfor Corporation operates as an integrated forest products company in Canada, Asia, the United States, Europe, and internationally. It operates through Lumber, and Pulp and Paper segments. The company manufactures and sells remanufactured and finger-jointed lumber, engineered wood products, wood chips, wood pellets, and logs, as well as produces green energy.

See Also: Debt-To-Equity Ratio

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