Interfor (TSE:IFP – Get Free Report) was downgraded by investment analysts at CIBC from an “outperform” rating to a “neutral” rating in a report released on Thursday, BayStreet.CA reports. They currently have a C$18.00 price objective on the stock, down from their prior price objective of C$22.00. CIBC’s target price would suggest a potential upside of 8.83% from the stock’s current price.
Other analysts have also issued research reports about the company. Raymond James lowered Interfor from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, April 3rd. BMO Capital Markets cut their target price on Interfor from C$29.00 to C$27.00 in a research report on Wednesday, April 17th. Royal Bank of Canada cut their price objective on Interfor from C$27.00 to C$24.00 in a research report on Thursday, July 11th. Scotiabank cut their price objective on Interfor from C$29.00 to C$26.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Finally, TD Securities cut their price objective on Interfor from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$24.83.
Check Out Our Latest Report on IFP
Interfor Trading Down 5.0 %
Interfor (TSE:IFP – Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported C($1.42) earnings per share (EPS) for the quarter. The firm had revenue of C$813.20 million during the quarter. Interfor had a negative net margin of 9.05% and a negative return on equity of 16.24%. As a group, sell-side analysts forecast that Interfor will post 2.8616667 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Ian Fillinger bought 3,100 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was purchased at an average price of C$16.30 per share, for a total transaction of C$50,530.00. Insiders own 0.97% of the company’s stock.
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.
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