Interfor (TSE:IFP) Share Price Passes Above 50 Day Moving Average – What’s Next?

Interfor Co. (TSE:IFP)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$9.43 and traded as high as C$11.88. Interfor shares last traded at C$11.46, with a volume of 225,995 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on IFP shares. Royal Bank Of Canada cut their price objective on Interfor from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a report on Thursday, December 18th. Raymond James Financial upgraded shares of Interfor from a “moderate buy” rating to a “strong-buy” rating and upped their price target for the company from C$12.00 to C$14.00 in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce cut shares of Interfor from a “hold” rating to a “strong sell” rating and lowered their price objective for the stock from C$9.00 to C$8.00 in a research report on Tuesday, December 9th. Finally, Scotiabank upgraded Interfor from a “hold” rating to an “outperform” rating and increased their target price for the company from C$13.00 to C$14.00 in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$12.20.

Interfor Stock Performance

The firm’s fifty day moving average is C$9.43 and its 200 day moving average is C$10.08. The firm has a market capitalization of C$753.58 million, a price-to-earnings ratio of -2.04 and a beta of 2.35. The company has a debt-to-equity ratio of 61.24, a current ratio of 1.69 and a quick ratio of 1.15.

Interfor (TSE:IFP) last released its quarterly earnings data on Thursday, November 6th. The company reported C($4.19) earnings per share for the quarter. The company 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%. On average, analysts predict 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.