Raymond James Financial Issues Positive Forecast for Interfor (TSE:IFP) Stock Price

Key Points

• Raymond James raised Interfor’s price target to C$17 from C$13 and maintained an “outperform” rating, implying 34.71% upside from the prior close.
• Analyst sentiment is broadly positive but mixed, with three Buy and three Hold ratings producing a “Moderate Buy” consensus and an average target of C$13.17.
• Interfor shares traded at C$12.62, while the company reported a quarterly loss of C$0.96 per share, C$643.2 million in revenue, and negative return on equity and net margin.

Interfor (TSE:IFP - Get Free Report) had its price objective boosted by Raymond James Financial from C$13.00 to C$17.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's price target would indicate a potential upside of 34.71% from the company's previous close.

A number of other equities analysts have also commented on the company. Royal Bank Of Canada dropped their price target on Interfor from C$14.00 to C$13.00 and set an "outperform" rating for the company in a research note on Thursday, April 16th. TD upped their price target on shares of Interfor from C$10.00 to C$14.00 and gave the company a "hold" rating in a report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$13.17.

Interfor Price Performance

Shares of IFP traded up C$0.06 during trading hours on Monday, reaching C$12.62. 75,426 shares of the stock traded hands, compared to its average volume of 299,819. The company's 50-day moving average price is C$11.62 and its two-hundred day moving average price is C$10.54. Interfor has a 52-week low of C$7.05 and a 52-week high of C$14.00. The company has a market cap of C$829.98 million, a P/E ratio of -1.93 and a beta of 1.61. The company has a current ratio of 2.12, a quick ratio of 1.15 and a debt-to-equity ratio of 77.13.

Interfor (TSE:IFP - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported C($0.96) earnings per share 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 during the quarter. On average, analysts anticipate that Interfor 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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