Interfor (TSE:IFP) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Shares of Interfor Co. (TSE:IFP) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$10.06 and traded as high as C$11.60. Interfor shares last traded at C$11.36, with a volume of 295,892 shares traded.

Analyst Ratings Changes

A number of research analysts have recently weighed in on IFP shares. Royal Bank Of Canada reduced 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 report on Thursday, April 16th. TD lowered their price target on shares of Interfor from C$12.00 to C$10.00 and set a “hold” rating on the stock in a report on Tuesday, May 19th. 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 research note on Friday, April 24th. Canadian Imperial Bank of Commerce raised Interfor from a “strong sell” rating to a “hold” rating in a report on Friday, March 20th. Finally, TD Securities boosted their target price on Interfor from C$11.00 to C$13.00 and gave the company a “hold” rating in a research note on Tuesday, February 17th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$11.83.

Interfor Stock Performance

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 capitalization of C$747.11 million, a PE ratio of -1.74 and a beta of 1.78. The company’s fifty day simple moving average is C$10.06 and its 200 day simple moving average is C$9.65.

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