Interfor (TSE:IFP) Trading 3.6% Higher – Here’s Why

Interfor Co. (TSE:IFP) shares traded up 3.6% during mid-day trading on Wednesday . The stock traded as high as C$10.16 and last traded at C$10.08. 71,380 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 332,711 shares. The stock had previously closed at C$9.73.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. TD Securities raised their target price on shares of Interfor from C$11.00 to C$13.00 and gave the stock a “hold” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce raised shares of Interfor from a “strong sell” rating to a “hold” rating in a research report on Friday, March 20th. TD decreased their target price on shares of Interfor from C$12.00 to C$10.00 and set a “hold” rating on the stock in a research report on Tuesday, May 19th. Royal Bank Of Canada reduced their price target on shares of Interfor from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Finally, Raymond James Financial cut shares of Interfor from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from C$14.00 to C$13.00 in a research report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Interfor currently has an average rating of “Moderate Buy” and an average target price of C$11.83.

Interfor Trading Up 8.5%

The stock has a market capitalization of C$694.50 million, a price-to-earnings ratio of -1.61 and a beta of 1.70. 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 business’s 50-day simple moving average is C$9.68 and its two-hundred day simple moving average is C$9.37.

Interfor (TSE:IFP) last announced its quarterly earnings results on Thursday, May 14th. The company reported C($0.96) earnings per share for the quarter. The business had revenue of C$643.20 million for the quarter. Interfor had a negative net margin of 13.73% and a negative return on equity of 28.72%. On average, research analysts anticipate that Interfor Co. will post 2.8616667 earnings per share for the current fiscal year.

Interfor Company Profile

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.