Interfor (TSE:IFP) Upgraded to “Outperform” at Scotiabank

Scotiabank upgraded shares of Interfor (TSE:IFP) from a sector perform rating to an outperform rating in a report issued on Monday morning,BayStreet.CA reports. Scotiabank currently has C$14.00 target price on the stock, up from their previous target price of C$13.00.

Other analysts have also issued research reports about the company. Raymond James Financial raised Interfor from a “moderate buy” rating to a “strong-buy” rating and lifted their price objective for the stock from C$12.00 to C$14.00 in a report on Wednesday, January 14th. TD Securities cut their price target on Interfor from C$15.00 to C$12.00 and set a “hold” rating for the company in a research note on Thursday, October 2nd. 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. Cibc Captl Mkts downgraded shares of Interfor from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 9th. Finally, CIBC lowered shares of Interfor from a “neutral” rating to an “underperform” rating and cut their target price for the company from C$9.00 to C$8.00 in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$12.20.

Interfor Stock Up 4.0%

IFP opened at C$10.85 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.69 and a debt-to-equity ratio of 61.24. The firm has a 50 day moving average price of C$8.70 and a 200-day moving average price of C$10.23. Interfor has a twelve month low of C$7.05 and a twelve month high of C$18.33. The stock has a market capitalization of C$713.46 million, a price-to-earnings ratio of -1.93 and a beta of 2.48.

Interfor (TSE:IFP) last issued its earnings results on Thursday, November 6th. The company reported C($4.19) earnings per share (EPS) for the quarter. The company had revenue of C$689.30 million during the quarter. Interfor had a negative return on equity of 25.85% and a negative net margin of 13.82%. Equities research analysts forecast 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.