Interfor (TSE:IFP) Trading 3.6% Higher – Here’s Why

Interfor Co. (TSE:IFP) shares shot up 3.6% during mid-day trading on Wednesday . The company traded as high as C$10.16 and last traded at C$10.08. 71,380 shares changed hands during trading, a decline of 79% from the average session volume of 332,711 shares. The stock had previously closed at C$9.73.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IFP. TD dropped their price objective on shares of Interfor from C$12.00 to C$10.00 and set a “hold” rating on the stock in a research note on Tuesday, May 19th. Royal Bank Of Canada dropped their price objective on shares of Interfor from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Canadian Imperial Bank of Commerce upgraded shares of Interfor from a “strong sell” rating to a “hold” rating in a research note on Friday, March 20th. Raymond James Financial lowered shares of Interfor from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from C$14.00 to C$13.00 in a research note on Friday, April 24th. Finally, TD Securities lifted their price objective on shares of Interfor from C$11.00 to C$13.00 and gave the company a “hold” rating in a research note on Tuesday, February 17th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Interfor currently has an average rating of “Moderate Buy” and an average target price of C$11.83.

Interfor Price Performance

The company has a quick ratio of 1.15, a current ratio of 2.12 and a debt-to-equity ratio of 77.13. The business’s 50 day moving average price is C$9.68 and its 200-day moving average price is C$9.37. The company has a market cap of C$694.50 million, a PE ratio of -1.61 and a beta of 1.70.

Interfor (TSE:IFP) last issued its quarterly earnings results on Thursday, May 14th. The company reported C($0.96) earnings per share (EPS) for the quarter. The company had revenue of C$643.20 million during the quarter. Interfor had a negative return on equity of 28.72% and a negative net margin of 13.73%. As a group, analysts forecast that Interfor Co. will post 2.8616667 earnings per share for the current year.

Interfor Company Profile

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.