Royal Bank of Canada Has Lowered Expectations for Canfor (TSE:CFP) Stock Price

Canfor (TSE:CFP) had its target price dropped by Royal Bank of Canada from C$19.00 to C$16.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 25.39% from the company’s current price.

CFP has been the topic of several other reports. CIBC downgraded shares of Canfor from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from C$19.00 to C$16.00 in a research note on Tuesday. TD Securities reduced their price target on Canfor from C$19.00 to C$17.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Scotiabank downgraded Canfor from a “hold” rating to a “strong sell” rating in a report on Monday, February 3rd. Finally, Raymond James lowered their price objective on shares of Canfor from C$28.00 to C$24.00 in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Canfor has an average rating of “Hold” and a consensus price target of C$18.67.

Canfor Stock Performance

Canfor stock opened at C$12.76 on Tuesday. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19. The firm’s fifty day moving average price is C$14.53 and its 200-day moving average price is C$15.58. Canfor has a fifty-two week low of C$12.60 and a fifty-two week high of C$18.38. The stock has a market cap of C$1.53 billion, a P/E ratio of -2.12 and a beta of 2.08.

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.