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 report released on Monday,Zacks.com reports.

CFP has been the subject of a number of other reports. Raymond James decreased their price target on Canfor from C$28.00 to C$24.00 in a report on Thursday, January 30th. Royal Bank of Canada cut their price objective 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. CIBC cut their price objective on shares of Canfor from C$21.00 to C$19.00 in a research report on Wednesday, January 15th. TD Securities cut their price objective 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. Finally, BMO Capital Markets cut shares of Canfor from an “outperform” rating to a “market perform” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Canfor currently has a consensus rating of “Moderate Buy” and a consensus target price of C$20.33.

Canfor Stock Performance

TSE CFP opened at C$14.96 on Monday. 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 fifty day simple moving average of C$15.67 and a 200 day simple moving average of C$15.84. Canfor has a twelve month low of C$13.53 and a twelve month high of C$18.38. The company has a market capitalization of C$1.77 billion, a price-to-earnings 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.