Interfor (TSE:IFP) Share Price Passes Above 50 Day Moving Average – Should You Sell?

Interfor Co. (TSE:IFP) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$8.53 and traded as high as C$10.34. Interfor shares last traded at C$10.25, with a volume of 360,715 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IFP shares. TD Securities reduced their price target on Interfor from C$15.00 to C$12.00 and set a “hold” rating for the company in a report on Thursday, October 2nd. Raymond James Financial raised shares of Interfor from a “moderate buy” rating to a “strong-buy” rating and raised their price objective for the company from C$12.00 to C$14.00 in a research report on Wednesday, January 14th. Cibc Captl Mkts downgraded shares of Interfor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 9th. CIBC lowered shares of Interfor from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from C$9.00 to C$8.00 in a research note on Tuesday, December 9th. Finally, Royal Bank Of Canada cut their price target on shares of Interfor from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$13.00.

Interfor Stock Up 0.9%

The company has a quick ratio of 1.15, a current ratio of 1.69 and a debt-to-equity ratio of 61.24. The business has a 50-day simple moving average of C$8.53 and a 200-day simple moving average of C$10.30. The stock has a market cap of C$674.01 million, a P/E ratio of -1.82 and a beta of 2.48.

Interfor (TSE:IFP) last released its quarterly earnings results on Thursday, November 6th. The company reported C($4.19) EPS for the quarter. The firm had revenue of C$689.30 million during the quarter. Interfor had a negative net margin of 13.82% and a negative return on equity of 25.85%. Analysts expect that Interfor Co. will post 2.8616667 EPS for the current 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.