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

Key Points

• Interfor stock crossed above its 50-day moving average (50‑day = C$9.76) and traded as high as C$10.13 on Friday, closing around C$9.80 on volume of 266,989 shares.
• Analysts hold a consensus Moderate Buy with three Buy and three Hold ratings and an average target price of C$12.17; recent moves include Scotia upgrading to Outperform (C$14 TP) and RBC trimming its TP to C$13 while maintaining an Outperform.
• Fundamentals show a market cap of C$644.5M, a negative PE (-1.57) and recent quarterly EPS of C($2.03) with a negative net margin (-12.27%), and leverage of about 68.9% debt-to-equity.

Interfor Co. (TSE:IFP - Get Free Report) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$9.76 and traded as high as C$10.13. Interfor shares last traded at C$9.80, with a volume of 266,989 shares.

Analyst Ratings Changes

Several analysts have issued reports on IFP shares. Scotiabank upgraded shares of Interfor from a "hold" rating to an "outperform" rating and increased their target price for the stock from C$13.00 to C$14.00 in a research note on Monday, January 26th. Royal Bank Of Canada lowered their target price on shares of Interfor from C$14.00 to C$13.00 and set an "outperform" rating on the stock in a research note on Thursday, April 16th. TD Securities increased their target price on shares of Interfor from C$11.00 to C$13.00 and gave the stock a "hold" rating in a research note on Tuesday, February 17th. Raymond James Financial cut shares of Interfor from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from C$14.00 to C$13.00 in a research note on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Interfor from a "strong sell" rating to a "hold" rating in a research note on Friday, March 20th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$12.17.

Interfor Stock Up 0.3%

The company has a market cap of C$644.52 million, a PE ratio of -1.57 and a beta of 1.53. The stock's 50 day moving average price is C$9.76 and its 200-day moving average price is C$9.24. The company has a debt-to-equity ratio of 68.89, a quick ratio of 1.15 and a current ratio of 1.78.

Interfor (TSE:IFP - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported C($2.03) earnings per share for the quarter. The firm had revenue of C$600.60 million for the quarter. Interfor had a negative net margin of 12.27% and a negative return on equity of 25.24%. On average, analysts predict that Interfor Co. will post 2.8616667 earnings per share for the current year.

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. The company's primary customers are in the construction and renovation industries. The majority of revenue is generated from the sale of lumber.

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