Interfor (TSE:IFP) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Interfor Co. (TSE:IFP) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$18.20 and traded as low as C$16.18. Interfor shares last traded at C$17.14, with a volume of 471,401 shares changing hands.

Analyst Upgrades and Downgrades

IFP has been the topic of several recent analyst reports. CIBC dropped their price target on Interfor from C$22.00 to C$20.00 in a research note on Tuesday, February 18th. Raymond James lowered their target price on Interfor from C$30.00 to C$26.00 and set a “strong-buy” rating on the stock in a research report on Thursday, January 30th. TD Securities lowered their target price on Interfor from C$23.00 to C$22.00 in a research report on Friday, November 8th. Finally, Royal Bank of Canada lowered their target price on Interfor from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$23.67.

Interfor Price Performance

The company has a fifty day moving average of C$16.94 and a 200-day moving average of C$18.20. The firm has a market cap of C$887.61 million, a P/E ratio of -2.10 and a beta of 2.54. The company has a debt-to-equity ratio of 61.24, a current ratio of 1.69 and a quick ratio of 1.15.

Insider Buying and Selling

In other Interfor news, Director Ian Fillinger acquired 3,150 shares of Interfor stock in a transaction on Monday, December 30th. The stock was purchased at an average price of C$16.29 per share, for a total transaction of C$51,304.05. 0.94% of the stock is currently owned by corporate insiders.

About Interfor

Interfor Corporation, together with its subsidiaries, produces and sells wood products in Canada, the United States, Japan, China, Taiwan, and internationally. It offers decking, fascia and board, framing, v-joint paneling, fineline paneling, and siding products, as well as appearance, structural, studs, timbers, and machine stress related products.