Interfor (TSE:IFP) Stock Passes Above 50-Day Moving Average – Here’s What Happened

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$9.92 and traded as high as C$11.26. Interfor shares last traded at C$11.10, with a volume of 207,694 shares changing hands.

Wall Street Analyst Weigh In

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

Interfor Trading Down 2.5%

The firm has a market capitalization of C$700.42 million, a PE ratio of -1.63 and a beta of 1.78. The business has a 50 day moving average price of C$9.97 and a 200-day moving average price of C$9.53. The company has a current ratio of 2.12, a quick ratio of 1.15 and a debt-to-equity ratio of 77.13.

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. The business had revenue of C$643.20 million for the quarter. Interfor had a negative return on equity of 28.72% and a negative net margin of 13.73%. Analysts expect that Interfor Co. will post 2.8616667 earnings per share 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.