Interfor (TSE:IFP) Reaches New 52-Week Low – Here’s What Happened

Interfor Co. (TSE:IFP) shares hit a new 52-week low on Wednesday . The stock traded as low as C$10.05 and last traded at C$10.15, with a volume of 334136 shares. The stock had previously closed at C$10.22.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Scotiabank cut their price objective on Interfor from C$20.00 to C$18.00 and set a “sector perform” rating for the company in a report on Monday, August 11th. Raymond James Financial downgraded Interfor from a “strong-buy” rating to a “moderate buy” rating and cut their price objective for the company from C$22.00 to C$19.00 in a report on Tuesday, July 22nd. Finally, CIBC cut their price objective on Interfor from C$14.00 to C$12.00 and set a “neutral” rating for the company in a report on Monday. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$17.20.

Interfor Trading Down 0.7%

The firm has a fifty day moving average price of C$12.53 and a 200 day moving average price of C$13.21. The company has a market cap of C$522.26 million, a price-to-earnings ratio of -2.91 and a beta of 2.65. The company has a debt-to-equity ratio of 61.24, a quick ratio of 1.15 and a current ratio of 1.69.

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.