Interfor (TSE:IFP) Stock Price Passes Above 50 Day Moving Average - Here's Why

Shares of Interfor Co. (TSE:IFP - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$12.99 and traded as high as C$13.04. Interfor shares last traded at C$12.96, with a volume of 253,530 shares traded.

Analysts Set New Price Targets

IFP has been the topic of a number of research analyst reports. CIBC decreased their price target on shares of Interfor from C$20.00 to C$17.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. TD Securities reduced their target price on Interfor from C$20.00 to C$16.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Royal Bank Of Canada dropped their price target on Interfor from C$26.00 to C$21.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Scotiabank reduced their price objective on Interfor from C$22.50 to C$20.00 in a research note on Monday, May 12th. Finally, Raymond James Financial cut Interfor from a "strong-buy" rating to a "moderate buy" rating and decreased their target price for the stock from C$22.00 to C$19.00 in a report on Tuesday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of C$18.60.

Interfor Stock Down 0.4%

The firm has a 50-day simple moving average of C$12.94 and a 200 day simple moving average of C$14.57. The company has a market capitalization of C$676.32 million, a PE ratio of -1.60 and a beta of 2.54. The company has a debt-to-equity ratio of 61.24, a current ratio of 1.69 and a quick ratio of 1.15.

About Interfor

Interfor Corporation, together with its subsidiaries, produces and sells wood products in Canada, the United States, Japan, China, Taiwan, and internationally. It offers decking, fascia and board, framing, v-joint paneling, fineline paneling, and siding products, as well as appearance, structural, studs, timbers, and machine stress related products.