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

Interfor Co. (TSE:IFP)’s share price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$14.06 and traded as high as C$14.84. Interfor shares last traded at C$14.47, with a volume of 152,033 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IFP shares. TD lifted their price target on shares of Interfor from C$14.00 to C$16.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Raymond James Financial raised Interfor from a “moderate buy” rating to a “strong-buy” rating and raised their price objective for the stock from C$17.00 to C$21.00 in a report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Interfor currently has a consensus rating of “Moderate Buy” and a consensus target price of C$14.17.

Interfor Stock Performance

The company has a market cap of C$901.01 million, a PE ratio of -2.03 and a beta of 1.75. The stock has a 50 day simple moving average of C$14.08 and a two-hundred day simple moving average of C$11.91. The company has a debt-to-equity ratio of 71.48, a current ratio of 1.96 and a quick ratio of 1.15.

Interfor Company Profile

Interfor is a forest products company with operations in Canada and the United States. The Company has annual lumber production capacity of approximately 4.4 billion board feet and offers a diverse line of lumber products to customers around the world.