Interfor (TSE:IFP) Stock Price Up 9.3% – Still a Buy?

Shares of Interfor Co. (TSE:IFP) were up 9.3% during mid-day trading on Monday . The stock traded as high as C$13.17 and last traded at C$13.00. Approximately 286,982 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 315,397 shares. The stock had previously closed at C$11.89.

Wall Street Analysts Forecast Growth

IFP has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce raised Interfor from a “strong sell” rating to a “hold” rating in a report on Friday, March 20th. TD dropped their price target on Interfor from C$12.00 to C$10.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. Royal Bank Of Canada reduced their price objective on Interfor from C$14.00 to C$13.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Finally, Raymond James Financial lowered Interfor from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from C$14.00 to C$13.00 in a report on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$11.83.

Interfor Stock Performance

The stock has a market cap of C$858.26 million, a price-to-earnings ratio of -2.00 and a beta of 1.78. The company has a debt-to-equity ratio of 77.13, a current ratio of 2.12 and a quick ratio of 1.15. The firm has a fifty day moving average of C$10.47 and a 200 day moving average of C$9.96.

Interfor (TSE:IFP) last issued its earnings results on Thursday, May 14th. The company reported C($0.96) earnings per share (EPS) for the quarter. Interfor had a negative return on equity of 28.72% and a negative net margin of 13.73%.The company had revenue of C$643.20 million during the quarter. As a group, sell-side analysts forecast 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.