Royal Bank of Canada Trims Canfor (CFP) Target Price to C$23.00

Canfor (TSE:CFP) had its target price cut by Royal Bank of Canada from C$29.00 to C$23.00 in a report released on Tuesday.

Other analysts have also issued reports about the company. CIBC lowered their price objective on Canfor from C$25.00 to C$23.00 in a report on Monday, October 29th. Raymond James raised Canfor from an outperform rating to a strong-buy rating and upped their target price for the company from C$32.00 to C$35.00 in a report on Friday, November 16th. Finally, BMO Capital Markets lowered their target price on Canfor from C$27.00 to C$22.00 in a report on Friday, October 19th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of C$29.50.

Shares of Canfor stock opened at C$17.14 on Tuesday. 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 has a fifty-two week low of C$14.48 and a fifty-two week high of C$34.04.

Canfor (TSE:CFP) last announced its quarterly earnings data on Wednesday, October 24th. The company reported C$1.23 earnings per share for the quarter. The firm had revenue of C$1.32 billion during the quarter. On average, equities analysts predict that Canfor will post 1.86000013527274 EPS for the current fiscal year.

In other Canfor news, Director Peter John Gerald Bentley acquired 10,000 shares of Canfor stock in a transaction dated Monday, November 26th. The stock was acquired at an average cost of C$19.07 per share, for a total transaction of C$190,700.00. Also, insider Corporation Canfor acquired 75,729 shares of Canfor stock in a transaction dated Monday, November 19th. The shares were acquired at an average price of C$18.37 per share, with a total value of C$1,391,141.73. Insiders have bought 92,014 shares of company stock valued at $1,687,401 over the last ninety days.

About Canfor

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.

Further Reading: Cost of Debt

Analyst Recommendations for Canfor (TSE:CFP)

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