Interfor (TSE:IFP) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Shares of Interfor Co. (TSE:IFP) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$9.92 and traded as high as C$10.06. Interfor shares last traded at C$9.91, with a volume of 156,832 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Raymond James Financial raised shares of Interfor from a “moderate buy” rating to a “strong-buy” rating and boosted their target price for the stock from C$12.00 to C$14.00 in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce lowered shares of Interfor from a “hold” rating to a “strong sell” rating and decreased their price target for the stock from C$9.00 to C$8.00 in a research report on Tuesday, December 9th. Scotiabank upgraded shares of Interfor from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from C$13.00 to C$14.00 in a report on Monday, January 26th. TD Securities increased their target price 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. Finally, Royal Bank Of Canada decreased their target price on Interfor from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$12.40.

Interfor Stock Up 0.5%

The company has a market capitalization of C$655.04 million, a price-to-earnings ratio of -1.59 and a beta of 2.35. The business has a fifty day simple moving average of C$9.96 and a two-hundred day simple moving average of C$9.92. The company has a quick ratio of 1.15, a current ratio of 1.69 and a debt-to-equity ratio of 61.24.

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.