Interfor (TSE:IFP) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Shares of Interfor Co. (TSE:IFP) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$10.09 and traded as low as C$8.80. Interfor shares last traded at C$8.82, with a volume of 247,609 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IFP shares. Scotiabank upgraded shares of Interfor from a “hold” rating to an “outperform” rating and upped their target price for the company from C$13.00 to C$14.00 in a report on Monday, January 26th. Canadian Imperial Bank of Commerce lowered shares of Interfor from a “hold” rating to a “strong sell” rating and cut their price target for the stock from C$9.00 to C$8.00 in a research note on Tuesday, December 9th. Royal Bank Of Canada reduced their price target on shares of Interfor from C$14.00 to C$13.00 and set an “outperform” rating for the company in a research report on Thursday, December 18th. Raymond James Financial upgraded shares of Interfor from a “moderate buy” rating to a “strong-buy” rating and upped their price objective for the company from C$12.00 to C$14.00 in a research note on Wednesday, January 14th. Finally, TD Securities lifted their target price on Interfor from C$11.00 to C$13.00 and gave the stock a “hold” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Interfor presently has an average rating of “Moderate Buy” and an average target price of C$12.40.

Interfor Stock Down 1.6%

The business’s fifty day moving average price is C$10.09 and its 200 day moving average price is C$9.70. The firm has a market capitalization of C$580.06 million, a price-to-earnings ratio of -1.41 and a beta of 1.88. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 68.89.

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.