Interfor (TSE:IFP) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Shares of Interfor Co. (TSE:IFP) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$9.43 and traded as high as C$11.88. Interfor shares last traded at C$11.46, with a volume of 225,995 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IFP. Canadian Imperial Bank of Commerce cut Interfor from a “hold” rating to a “strong sell” rating and lowered their price target for the company from C$9.00 to C$8.00 in a research note on Tuesday, December 9th. Royal Bank Of Canada reduced their target price on shares of Interfor from C$14.00 to C$13.00 and set an “outperform” rating for the company in a research note on Thursday, December 18th. Raymond James Financial upgraded shares of Interfor from a “moderate buy” rating to a “strong-buy” rating and increased their price target for the stock from C$12.00 to C$14.00 in a research note on Wednesday, January 14th. Finally, Scotiabank upgraded shares of Interfor from a “hold” rating to an “outperform” rating and raised their price target for the company from C$13.00 to C$14.00 in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$12.20.

Interfor Stock Down 1.9%

The company has a quick ratio of 1.15, a current ratio of 1.69 and a debt-to-equity ratio of 61.24. The business has a 50-day simple moving average of C$9.43 and a 200-day simple moving average of C$10.08. The stock has a market cap of C$753.58 million, a P/E ratio of -2.04 and a beta of 2.35.

Interfor (TSE:IFP) last released its quarterly earnings results on Thursday, November 6th. The company reported C($4.19) EPS for the quarter. The firm had revenue of C$689.30 million during the quarter. Interfor had a negative net margin of 13.82% and a negative return on equity of 25.85%. Analysts expect that Interfor Co. will post 2.8616667 EPS for the current year.

About Interfor

Interfor Corp produces and sells lumber, timber, and other wood products. The company operates sawmills to convert timber into lumber, logs, wood chips, and other wood products for sale. The firm also harvests timber for its sawmills on forest land owned by the Canadian government. Interfor pays the Canadian government stumpage fees based on the number of trees it harvests. The company’s primary customers are in the construction and renovation industries. The majority of revenue is generated from the sale of lumber.