Interfor (TSE:IFP) Share Price Passes Below 50-Day Moving Average – Here’s Why

Interfor Co. (TSE:IFP) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$11.08 and traded as low as C$7.92. Interfor shares last traded at C$8.03, with a volume of 260,970 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Raymond James Financial dropped their price objective on shares of Interfor from C$19.00 to C$15.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Scotiabank dropped their price objective on shares of Interfor from C$20.00 to C$18.00 and set a “sector perform” rating on the stock in a research note on Monday, August 11th. CIBC decreased their price target on shares of Interfor from C$12.00 to C$10.00 and set a “neutral” rating for the company in a research report on Wednesday, October 22nd. TD Securities decreased their price target on shares of Interfor from C$15.00 to C$12.00 and set a “hold” rating for the company in a research report on Thursday, October 2nd. Finally, Royal Bank Of Canada decreased their price target on shares of Interfor from C$17.00 to C$14.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$13.80.

Interfor Trading Down 2.2%

The stock has a market cap of C$528.03 million, a price-to-earnings ratio of -2.30 and a beta of 2.29. The business’s fifty day simple moving average is C$11.08 and its 200 day simple moving average is C$12.41. The company has a debt-to-equity ratio of 61.24, a current ratio of 1.69 and a quick ratio of 1.15.

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.