Interfor (TSE:IFP) Reaches New 1-Year High Following Analyst Upgrade

Interfor Co. (TSE:IFP)’s stock price hit a new 52-week high during trading on Tuesday after TD raised their price target on the stock from C$10.00 to C$14.00. TD currently has a hold rating on the stock. Interfor traded as high as C$13.63 and last traded at C$13.57, with a volume of 117464 shares changing hands. The stock had previously closed at C$12.52.

IFP has been the subject of a number of other research reports. Royal Bank Of Canada lowered their target price on shares of 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. Raymond James Financial downgraded Interfor from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from C$14.00 to C$13.00 in a report on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce upgraded Interfor from a “strong sell” rating to a “hold” rating in a research note on Friday, March 20th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Interfor has a consensus rating of “Moderate Buy” and an average price target of C$12.50.

Interfor Price Performance

The stock has a 50-day moving average price of C$11.07 and a 200 day moving average price of C$10.32. 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 firm has a market cap of C$884.57 million, a price-to-earnings ratio of -2.06 and a beta of 1.61.

Interfor (TSE:IFP) last posted its earnings results on Thursday, May 14th. The company reported C($0.96) earnings per share for the quarter. The firm had revenue of C$643.20 million during the quarter. Interfor had a negative net margin of 13.73% and a negative return on equity of 28.72%. As a group, equities research analysts forecast that Interfor Co. will post 2.8616667 earnings per share for the current fiscal 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.