Interfor (TSE:IFP) Shares Down 7.9% – Here’s Why

Interfor Co. (TSE:IFP) shares fell 7.9% during trading on Monday . The stock traded as low as C$15.45 and last traded at C$15.79. 94,365 shares traded hands during trading, a decline of 46% from the average session volume of 173,281 shares. The stock had previously closed at C$17.14.

Wall Street Analyst Weigh In

IFP has been the subject of several recent research reports. Raymond James reduced their price objective on Interfor from C$30.00 to C$26.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 30th. Scotiabank cut shares of Interfor from an “outperform” rating to a “sector perform” rating in a research report on Monday. Royal Bank of Canada lowered their price target on shares of 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. CIBC cut their price objective on shares of Interfor from C$22.00 to C$20.00 in a report on Tuesday, February 18th. Finally, TD Securities lowered their target price on Interfor from C$23.00 to C$22.00 in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Interfor has an average rating of “Moderate Buy” and an average price target of C$23.67.

Interfor Stock Down 0.6 %

The firm’s fifty day simple moving average is C$16.90 and its two-hundred day simple moving average is C$18.17. 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 company has a market capitalization of C$829.61 million, a price-to-earnings ratio of -1.96 and a beta of 2.54.

Insider Activity at Interfor

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

Interfor Company Profile

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.