Interfor (TSE:IFP) Stock Rating Upgraded by Canadian Imperial Bank of Commerce

Interfor (TSE:IFP) was upgraded by Canadian Imperial Bank of Commerce from a “strong sell” rating to a “hold” rating in a research report issued on Friday, Marketbeat Ratings reports.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada lowered their price target on shares of Interfor from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a report on Thursday, December 18th. Scotiabank raised shares of Interfor from a “hold” rating to an “outperform” rating and increased their price objective for the stock from C$13.00 to C$14.00 in a research note on Monday, January 26th. TD Securities raised their price objective on shares of Interfor from C$11.00 to C$13.00 and gave the company a “hold” rating in a research report on Tuesday, February 17th. Finally, Raymond James Financial upgraded shares of Interfor from a “moderate buy” rating to a “strong-buy” rating and lifted their target price for the company from C$12.00 to C$14.00 in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Interfor presently has an average rating of “Moderate Buy” and a consensus price target of C$12.40.

Interfor Stock Up 2.5%

IFP stock opened at C$8.78 on Friday. Interfor has a twelve month low of C$7.05 and a twelve month high of C$16.25. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 68.89. The stock has a market cap of C$577.43 million, a P/E ratio of -1.40 and a beta of 1.88. The business’s 50-day moving average price is C$10.10 and its 200-day moving average price is C$9.50.

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.