Interfor (TSE:IFP) Share Price Passes Above 50-Day Moving Average – Time to Sell?

Interfor Co. (TSE:IFP)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$9.92 and traded as high as C$11.26. Interfor shares last traded at C$11.10, with a volume of 207,694 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IFP. TD decreased their target price on Interfor from C$12.00 to C$10.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. Raymond James Financial cut Interfor from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from C$14.00 to C$13.00 in a research report on Friday, April 24th. Canadian Imperial Bank of Commerce raised Interfor from a “strong sell” rating to a “hold” rating in a research report on Friday, March 20th. Royal Bank Of Canada decreased their target price on Interfor from C$14.00 to C$13.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Finally, TD Securities upped 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. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Interfor presently has an average rating of “Moderate Buy” and an average price target of C$11.83.

Interfor Stock Up 3.1%

The company has a quick ratio of 1.15, a current ratio of 2.12 and a debt-to-equity ratio of 77.13. The company has a market capitalization of C$730.01 million, a P/E ratio of -1.70 and a beta of 1.70. The firm has a 50-day moving average price of C$9.92 and a two-hundred day moving average price of C$9.49.

Interfor (TSE:IFP) last issued its earnings results on Thursday, May 14th. The company reported C($0.96) EPS for the quarter. The firm had revenue of C$643.20 million during the quarter. Interfor had a negative net margin of 13.73% and a negative return on equity of 28.72%. Equities research analysts anticipate that Interfor Co. will post 2.8616667 EPS for the current fiscal year.

Interfor Company Profile

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.