Interfor (TSE:IFP) Shares Cross Above 50 Day Moving Average – Here’s Why

Interfor Co. (TSE:IFP) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$19.13 and traded as high as C$20.06. Interfor shares last traded at C$19.91, with a volume of 182,470 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IFP. Cibc World Mkts lowered shares of Interfor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 18th. BMO Capital Markets decreased their price objective on Interfor from C$27.00 to C$24.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, July 23rd. Royal Bank of Canada dropped their price objective on Interfor from C$27.00 to C$24.00 in a research report on Thursday, July 11th. Scotiabank dropped their price objective on Interfor from C$26.00 to C$24.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Finally, CIBC lifted their price target on Interfor from C$18.00 to C$19.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$24.00.

Interfor Stock Up 0.7 %

The firm’s fifty day moving average is C$19.13 and its two-hundred day moving average is C$17.97. The company has a debt-to-equity ratio of 62.31, a current ratio of 2.02 and a quick ratio of 1.15. The firm has a market cap of C$1.02 billion, a price-to-earnings ratio of -2.84 and a beta of 2.54.

Interfor (TSE:IFP) last announced its earnings results on Thursday, August 8th. The company reported C($1.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($1.17) by C($0.30). The company had revenue of C$771.20 million for the quarter, compared to analyst estimates of C$774.00 million. Interfor had a negative return on equity of 20.18% and a negative net margin of 11.26%. On average, sell-side analysts expect that Interfor Co. will post 2.8616667 EPS for the current fiscal year.

About Interfor

Interfor Corporation, together with its subsidiaries, produces and sells wood products in Canada, the United States, Japan, China, Taiwan, and internationally. It offers decking, fascia and board, framing, v-joint paneling, fineline paneling, and siding products, as well as appearance, structural, studs, timbers, and machine stress related products.