Interfor (TSE:IFP) Stock Price Up 9.3% – Time to Buy?

Shares of Interfor Co. (TSE:IFP) were up 9.3% on Monday . The company traded as high as C$13.17 and last traded at C$13.00. Approximately 286,982 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 315,397 shares. The stock had previously closed at C$11.89.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IFP shares. Royal Bank Of Canada lowered their price target on Interfor from C$14.00 to C$13.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Canadian Imperial Bank of Commerce upgraded Interfor from a “strong sell” rating to a “hold” rating in a research report on Friday, March 20th. TD lowered their target price on Interfor from C$12.00 to C$10.00 and set a “hold” rating for the company in a research note on Tuesday, May 19th. Finally, Raymond James Financial cut shares of Interfor from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from C$14.00 to C$13.00 in a report on Friday, April 24th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Interfor presently has an average rating of “Moderate Buy” and an average target price of C$11.83.

Interfor Trading Up 9.0%

The business’s 50 day simple moving average is C$10.35 and its two-hundred day simple moving average is C$9.89. The stock has a market cap of C$852.34 million, a P/E ratio of -1.98 and a beta of 1.78. The company has a quick ratio of 1.15, a current ratio of 2.12 and a debt-to-equity ratio of 77.13.

Interfor (TSE:IFP) last announced its quarterly earnings results on Thursday, May 14th. The company reported C($0.96) EPS for the quarter. Interfor had a negative net margin of 13.73% and a negative return on equity of 28.72%. The firm had revenue of C$643.20 million during the quarter. As a group, 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.