Interfor (TSE:IFP) Stock Price Up 3.6% – Here’s What Happened

Interfor Co. (TSE:IFP) shares shot up 3.6% during trading on Wednesday . The stock traded as high as C$10.16 and last traded at C$10.08. 71,380 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 332,711 shares. The stock had previously closed at C$9.73.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IFP shares. TD lowered their target price on shares of Interfor from C$12.00 to C$10.00 and set a “hold” rating for the company in a report on Tuesday, May 19th. Canadian Imperial Bank of Commerce raised Interfor from a “strong sell” rating to a “hold” rating in a research note on Friday, March 20th. TD Securities increased their price target on Interfor from C$11.00 to C$13.00 and gave the stock a “hold” rating in a report on Tuesday, February 17th. Raymond James Financial lowered Interfor from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from C$14.00 to C$13.00 in a research note on Friday, April 24th. Finally, Royal Bank Of Canada cut their price objective on Interfor from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Three 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, the company has an average rating of “Moderate Buy” and a consensus price target of C$11.83.

Interfor Price Performance

The company has a debt-to-equity ratio of 77.13, a quick ratio of 1.15 and a current ratio of 2.12. The firm has a fifty day simple moving average of C$9.75 and a 200 day simple moving average of C$9.41. The company has a market capitalization of C$697.13 million, a PE ratio of -1.62 and a beta of 1.70.

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%. Equities analysts anticipate that Interfor Co. will post 2.8616667 EPS for the current year.

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.