Interfor (TSE:IFP) Price Target Raised to C$23.00 at CIBC

Interfor (TSE:IFP) had its price objective increased by research analysts at CIBC from C$22.00 to C$23.00 in a report released on Friday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 19.23% from the stock’s previous close.

Several other equities analysts also recently commented on IFP. Cibc World Mkts downgraded Interfor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 18th. TD Securities reduced their price objective on shares of Interfor from C$23.00 to C$22.00 in a research report on Friday. Raymond James raised shares of Interfor from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from C$26.00 to C$30.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada decreased their price target on shares of Interfor from C$27.00 to C$24.00 in a research note on Thursday, July 11th. Finally, Scotiabank cut 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. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$24.50.

Interfor Stock Performance

Interfor stock traded up C$0.13 during midday trading on Friday, hitting C$19.29. The stock had a trading volume of 25,489 shares, compared to its average volume of 160,435. Interfor has a 52-week low of C$15.35 and a 52-week high of C$26.00. The company has a market capitalization of C$992.47 million, a PE ratio of -2.76 and a beta of 2.54. The firm’s fifty day moving average is C$19.17 and its two-hundred day moving average is C$17.98. The company has a current ratio of 2.02, a quick ratio of 1.15 and a debt-to-equity ratio of 62.31.

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

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.