Interfor (TSE:IFP) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Interfor Co. (TSE:IFP) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$9.92 and traded as high as C$10.06. Interfor shares last traded at C$9.91, with a volume of 156,832 shares trading hands.

Analysts Set New Price Targets

Several brokerages have issued reports on IFP. Canadian Imperial Bank of Commerce downgraded shares of Interfor from a “hold” rating to a “strong sell” rating and cut their price objective for the stock from C$9.00 to C$8.00 in a research report on Tuesday, December 9th. Raymond James Financial raised shares of Interfor from a “moderate buy” rating to a “strong-buy” rating and raised their target price for the company from C$12.00 to C$14.00 in a report on Wednesday, January 14th. Royal Bank Of Canada dropped their price objective on Interfor from C$14.00 to C$13.00 and set an “outperform” rating for the company in a research report on Thursday, December 18th. Scotiabank raised shares of Interfor from a “hold” rating to an “outperform” rating and boosted their target price for the stock from C$13.00 to C$14.00 in a research note on Monday, January 26th. Finally, TD Securities lifted 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. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$12.40.

Interfor Price Performance

The company has a current ratio of 1.69, a quick ratio of 1.15 and a debt-to-equity ratio of 61.24. The business has a 50-day moving average of C$9.92 and a 200 day moving average of C$9.94. The firm has a market capitalization of C$651.75 million, a PE ratio of -1.58 and a beta of 2.35.

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.