Interfor (TSE:IFP) Stock Price Up 10.6% – Still a Buy?

Interfor Co. (TSE:IFP) was up 10.6% on Friday . The company traded as high as C$17.67 and last traded at C$17.23. Approximately 142,877 shares changed hands during trading, a decline of 6% from the average daily volume of 152,196 shares. The stock had previously closed at C$15.58.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. CIBC cut their price objective on Interfor from C$23.00 to C$22.00 in a research report on Wednesday, January 15th. Royal Bank of Canada dropped their price objective on shares of Interfor from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. TD Securities cut their target price on shares of Interfor from C$23.00 to C$22.00 in a research note on Friday, November 8th. Finally, Raymond James reduced their price objective on Interfor from C$30.00 to C$26.00 and set a “strong-buy” rating for the company in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Interfor currently has an average rating of “Moderate Buy” and an average price target of C$24.00.

Interfor Stock Up 11.2 %

The stock’s fifty day simple moving average is C$17.31 and its 200-day simple moving average is C$18.24. The stock has a market cap of C$896.93 million, a P/E ratio of -2.12 and a beta of 2.54. The company has a debt-to-equity ratio of 61.24, a quick ratio of 1.15 and a current ratio of 1.69.

Insiders Place Their Bets

In other Interfor news, Director Ian Fillinger purchased 3,150 shares of the stock in a transaction dated Monday, December 30th. The stock was bought at an average price of C$16.29 per share, with a total value of C$51,304.05. Corporate insiders own 0.94% of the company’s stock.

Interfor Company Profile

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.