CIBC Cuts Interfor (TSE:IFP) Price Target to C$9.00

Interfor (TSE:IFP) had its target price trimmed by CIBC from C$10.00 to C$9.00 in a report published on Tuesday morning,BayStreet.CA reports.

A number of other equities research analysts have also commented on IFP. TD Securities reduced their price objective on shares of Interfor from C$15.00 to C$12.00 and set a “hold” rating on the stock in a research note on Thursday, October 2nd. Scotiabank cut their price target on shares of Interfor from C$20.00 to C$18.00 and set a “sector perform” rating on the stock in a research report on Monday, August 11th. Raymond James Financial decreased their price target on Interfor from C$19.00 to C$15.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Finally, Royal Bank Of Canada dropped their price objective on Interfor from C$17.00 to C$14.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$13.60.

Interfor Price Performance

Shares of IFP opened at C$7.86 on Tuesday. The business has a 50-day moving average of C$9.79 and a 200-day moving average of C$11.88. The company has a debt-to-equity ratio of 61.24, a current ratio of 1.69 and a quick ratio of 1.15. The company has a market capitalization of C$516.85 million, a price-to-earnings ratio of -1.40 and a beta of 2.38. Interfor has a 1 year low of C$7.21 and a 1 year high of C$21.23.

Interfor (TSE:IFP) last released its earnings results on Thursday, November 6th. The company reported C($4.19) earnings per share for the quarter. Interfor had a negative net margin of 13.82% and a negative return on equity of 25.85%. The firm had revenue of C$689.30 million for the quarter. As a group, equities research analysts anticipate that Interfor 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.