Interfor (TSE:IFP) Sets New 1-Year Low on Analyst Downgrade

Key Points

• Interfor Co. (TSE:IFP) reached a new 52-week low of C$7.95 following a downgrade by the Royal Bank of Canada, which lowered its price target from C$17.00 to C$14.00.
• Other analysts, including TD Securities and CIBC, have also cut their price targets for Interfor, indicating a general market concern about the stock's performance.
• The stock currently holds a consensus rating of "Hold" and a target price of C$14.20, with mixed ratings from analysts in recent reports.

Interfor Co. (TSE:IFP - Get Free Report) hit a new 52-week low during trading on Monday after Royal Bank Of Canada lowered their price target on the stock from C$17.00 to C$14.00. Royal Bank Of Canada currently has an outperform rating on the stock. Interfor traded as low as C$7.95 and last traded at C$8.06, with a volume of 209588 shares. The stock had previously closed at C$8.21.

Other equities analysts have also recently issued research reports about the stock. TD Securities lowered their price objective on shares of Interfor from C$15.00 to C$12.00 and set a "hold" rating on the stock in a research note on Thursday, October 2nd. CIBC decreased their target price on shares of Interfor from C$14.00 to C$12.00 and set a "neutral" rating on the stock in a research note on Monday, September 29th. Raymond James Financial cut their price objective on shares of Interfor from C$19.00 to C$15.00 and set an "outperform" rating for the company in a report on Tuesday, October 7th. Finally, Scotiabank cut their price objective on shares of 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. Two equities research analysts have 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 stock currently has a consensus rating of "Hold" and a consensus price target of C$14.20.

Interfor Price Performance

The company has a debt-to-equity ratio of 61.24, a current ratio of 1.69 and a quick ratio of 1.15. The company has a market capitalization of C$524.74 million, a price-to-earnings ratio of -2.29 and a beta of 2.29. The stock has a fifty day simple moving average of C$11.65 and a 200-day simple moving average of C$12.65.

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.

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