Interfor (TSE:IFP) Stock Passes Above 50-Day Moving Average – Should You Sell?

Interfor Co. (TSE:IFP)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$9.92 and traded as high as C$10.06. Interfor shares last traded at C$9.91, with a volume of 156,832 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. TD Securities increased their target price on shares of Interfor from C$11.00 to C$13.00 and gave the company a “hold” rating in a research note on Tuesday, February 17th. Raymond James Financial raised shares of Interfor from a “moderate buy” rating to a “strong-buy” rating and boosted their target price for the stock from C$12.00 to C$14.00 in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce lowered shares of Interfor from a “hold” rating to a “strong sell” rating and dropped their price target for the company from C$9.00 to C$8.00 in a research report on Tuesday, December 9th. Royal Bank Of Canada decreased their target price on 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. Finally, Scotiabank upgraded shares of Interfor from a “hold” rating to an “outperform” rating and boosted their price objective for the stock 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 given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$12.40.

Interfor Price Performance

The company has a debt-to-equity ratio of 61.24, a quick ratio of 1.15 and a current ratio of 1.69. The company has a 50-day moving average price of C$9.92 and a 200-day moving average price of C$9.94. The firm has a market capitalization of C$651.75 million, a P/E ratio of -1.58 and a beta of 2.35.

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.