Canfor Pulp Products (TSE:CFX) Raised to “Buy” at TD Securities

TD Securities upgraded shares of Canfor Pulp Products (TSE:CFX) from a hold rating to a buy rating in a report issued on Tuesday morning, BayStreet.CA reports. They currently have C$13.00 price objective on the stock, up from their prior price objective of C$11.00.

CFX has been the topic of a number of other research reports. Royal Bank of Canada decreased their price objective on shares of Canfor Pulp Products from C$13.00 to C$12.00 and set a sector perform rating on the stock in a report on Friday, July 26th. Raymond James reduced their price target on shares of Canfor Pulp Products from C$20.00 to C$19.00 and set an outperform rating on the stock in a report on Friday, July 26th. Finally, CIBC reduced their price target on shares of Canfor Pulp Products from C$15.00 to C$13.00 in a report on Friday, July 5th.

CFX stock opened at C$9.16 on Tuesday. The company has a market cap of $593.78 million and a P/E ratio of 7.61. Canfor Pulp Products has a 52 week low of C$8.84 and a 52 week high of C$28.05. The company’s 50-day moving average price is C$9.88 and its 200 day moving average price is C$13.38. The company has a current ratio of 2.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.53.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were issued a $0.063 dividend. This represents a $0.25 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Tuesday, August 6th. Canfor Pulp Products’s dividend payout ratio (DPR) is presently 20.78%.

Canfor Pulp Products Company Profile

Canfor Pulp Products Inc, together with its subsidiaries, produces and supplies pulp and paper products in North America, Europe, Asia, and internationally. The company operates through two segments, Pulp and Paper. It offers solid wood; bleached and unbleached softwood pulp; and bleached and unbleached kraft, and coloured kraft papers.

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