Canfor Pulp Products PT Lowered to C$16.50

July 27, 2015

By: Mideast Times

Equities researchers at Scotiabank reduced their priceobjective on shares of Canfor Pulp Products  from C$17.50 to C$16.50 in a research report issued on Thursday,Market Beat reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 15.79% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond Jamesdowngraded shares of Canfor Pulp Products from a “strong-buy” rating to an “outperform” rating in a research note on Friday, July 10th. Separately, analysts at Dundee Securities raised their price target on shares of Canfor Pulp Products from C$17.00 to C$18.50 in a research note on Tuesday, July 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Canfor Pulp Products presently has a consensus rating of “Buy” and an average price target of C$17.50.

Canfor Pulp Products opened at 14.25 on Thursday. Canfor Pulp Products has a one year low of $10.20 and a one year high of $17.02. The stock has a 50-day moving average of $15.65 and a 200-day moving average of $15.31. The company has a market cap of $1.00 billion and a P/E ratio of 11.11.

The company also recently announced a dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.0482 per share. The ex-dividend date is Thursday, July 30th.

In other Canfor Pulp Products news, insider Canfor Pulp Products Inc. acquired 10,800 shares of Canfor Pulp Products stock in a transaction dated Friday, May 15th. The shares were purchased at an averagecost of C$14.71 per share, for a total transaction of C$158,886.36.

Canfor Pulp Products Inc.  is a Canada-based supplier of pulp and paper products. The Company operates in the central interior of British Columbia. CPPI operates in two segments: Pulp and Paper. Its Pulp segment includes the Company’s three pulp mills, which include the Northwood Pulp Mill, the Intercontinental Pulp Mill and the pulp portion of the Prince George Pulp and Paper Mill. Its Paper segment includes the paper produced at the Company’s Prince George Pulp and Paper Mill. The Northwood Pulp Mill is a two line pulp mill with annual production capacity of approximately 600,000 air-dried metric tons (ADMT) of Northern Bleached Softwood Kraft (NBSK) pulp. The Intercontinental Mill is a single-line pulp mill with annual production capacity of approximately 320,000 tons of NBSK pulp. The Prince George Pulp and Paper Mill is a two line pulp and paper mill. Its kraft paper production has capacity of approximately 140,000 tons.

By: Mideast Times

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