Canfor (TSE:CFP) Downgraded to Strong Sell Rating by Scotiabank

Scotiabank cut shares of Canfor (TSE:CFP) from a hold rating to a strong sell rating in a research report report published on Monday morning,Zacks.com reports.

Several other research firms have also recently commented on CFP. Royal Bank of Canada dropped their target price on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. TD Securities dropped their target price on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Raymond James dropped their target price on shares of Canfor from C$28.00 to C$24.00 in a research report on Thursday, January 30th. CIBC dropped their price objective on Canfor from C$21.00 to C$19.00 in a research note on Wednesday, January 15th. Finally, BMO Capital Markets downgraded Canfor from an “outperform” rating to a “market perform” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Canfor presently has an average rating of “Moderate Buy” and an average price target of C$20.33.

Canfor Price Performance

Canfor stock opened at C$14.96 on Monday. Canfor has a 52 week low of C$13.53 and a 52 week high of C$18.38. The company’s 50 day moving average price is C$15.67 and its two-hundred day moving average price is C$15.84. The company has a quick ratio of 2.14, a current ratio of 1.99 and a debt-to-equity ratio of 11.97. The stock has a market cap of C$1.77 billion, a P/E ratio of -4.44 and a beta of 2.08.

About Canfor

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.