Interfor (TSE:IFP) Stock Passes Above 50 Day Moving Average – What’s Next?

Interfor Co. (TSE:IFP) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$8.53 and traded as high as C$10.34. Interfor shares last traded at C$10.25, with a volume of 360,715 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Securities reduced their target price on Interfor from C$15.00 to C$12.00 and set a “hold” rating for the company in a report on Thursday, October 2nd. Royal Bank Of Canada cut their price objective on Interfor from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a report on Thursday, December 18th. CIBC cut shares of Interfor from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from C$9.00 to C$8.00 in a report on Tuesday, December 9th. Cibc Captl Mkts downgraded shares of Interfor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 9th. Finally, Raymond James Financial upgraded shares of Interfor from a “moderate buy” rating to a “strong-buy” rating and upped their price target for the company from C$12.00 to C$14.00 in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$13.00.

Interfor Trading Up 0.9%

The company has a market cap of C$674.01 million, a PE ratio of -1.82 and a beta of 2.48. 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 simple moving average of C$8.53 and a two-hundred day simple moving average of C$10.30.

Interfor (TSE:IFP) last posted its quarterly earnings results on Thursday, November 6th. The company reported C($4.19) EPS for the quarter. The company had revenue of C$689.30 million for the quarter. Interfor had a negative return on equity of 25.85% and a negative net margin of 13.82%. 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.