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

Interfor Co. (TSE:IFP) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$10.06 and traded as high as C$11.60. Interfor shares last traded at C$11.36, with a volume of 295,892 shares changing hands.

Analyst Ratings Changes

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

Interfor Stock Performance

The company has a debt-to-equity ratio of 77.13, a quick ratio of 1.15 and a current ratio of 2.12. The stock has a market cap of C$747.11 million, a PE ratio of -1.74 and a beta of 1.78. The company’s 50 day simple moving average is C$10.06 and its 200 day simple moving average is C$9.65.

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