Royal Bank Of Canada Cuts Interfor (TSE:IFP) Price Target to C$14.00

Key Points

• Royal Bank Of Canada has reduced its price target for Interfor from C$17.00 to C$14.00, maintaining an "outperform" rating on the stock which indicates a potential upside of 75.22% based on its previous close.
• Other analysts, including TD Securities and CIBC, also lowered their price targets for Interfor, contributing to a consensus rating of "Hold" with a target price of C$14.20.
• Interfor's stock has recently traded down 2.7%, reaching C$7.99, and the company has a concerning debt-to-equity ratio of 61.24.

Interfor (TSE:IFP - Get Free Report) had its target price reduced by analysts at Royal Bank Of Canada from C$17.00 to C$14.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 75.22% from the company's previous close.

A number of other equities analysts also recently issued reports on IFP. TD Securities decreased their price objective on Interfor from C$15.00 to C$12.00 and set a "hold" rating for the company in a report on Thursday, October 2nd. CIBC dropped their target price on Interfor from C$14.00 to C$12.00 and set a "neutral" rating on the stock in a research report on Monday, September 29th. Scotiabank dropped their target price on Interfor from C$20.00 to C$18.00 and set a "sector perform" rating on the stock in a research report on Monday, August 11th. Finally, Raymond James Financial dropped their target price on Interfor from C$19.00 to C$15.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of C$14.20.

Interfor Trading Down 2.7%

IFP stock traded down C$0.22 on Monday, reaching C$7.99. The company's stock had a trading volume of 365,312 shares, compared to its average volume of 247,003. The business has a fifty day simple moving average of C$11.65 and a two-hundred day simple moving average of C$12.65. The company has a debt-to-equity ratio of 61.24, a quick ratio of 1.15 and a current ratio of 1.69. The firm has a market cap of C$525.40 million, a PE ratio of -2.29 and a beta of 2.29. Interfor has a 12-month low of C$7.95 and a 12-month high of C$21.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.