Canfor (TSE:CFP) Price Target Lowered to C$22.00 at CIBC

Canfor (TSE:CFP) had its target price reduced by stock analysts at CIBC from C$23.00 to C$22.00 in a research report issued on Thursday, BayStreet.CA reports. CIBC’s price target points to a potential upside of 40.75% from the company’s previous close.

Several other brokerages have also weighed in on CFP. Scotiabank set a C$22.00 price objective on shares of Canfor and gave the company a “sector perform” rating in a research report on Monday, January 22nd. TD Securities lowered their price target on shares of Canfor from C$25.00 to C$22.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. Finally, Raymond James downgraded shares of Canfor from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from C$25.00 to C$23.00 in a research report on Tuesday, February 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Canfor currently has an average rating of “Moderate Buy” and an average target price of C$23.20.

Canfor Stock Performance

TSE:CFP traded down C$0.11 on Thursday, hitting C$15.63. The company’s stock had a trading volume of 110,999 shares, compared to its average volume of 183,000. Canfor has a one year low of C$13.41 and a one year high of C$23.99. The firm has a market capitalization of C$1.86 billion, a P/E ratio of -5.77 and a beta of 2.16. The stock has a fifty day moving average of C$16.36 and a two-hundred day moving average of C$16.43. The company has a current ratio of 2.49, a quick ratio of 2.14 and a debt-to-equity ratio of 9.34.

Canfor (TSE:CFP) last posted its earnings results on Tuesday, March 5th. The company reported C($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.94) by C($0.12). Canfor had a negative return on equity of 7.71% and a negative net margin of 6.01%. The business had revenue of C$1.28 billion for the quarter. Research analysts predict that Canfor will post 0.4005401 earnings per share for the current year.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.