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

Interfor (TSE:IFP) had its price objective raised by CIBC from C$22.00 to C$23.00 in a research note issued to investors on Friday morning,BayStreet.CA reports.

Several other equities research analysts also recently weighed in on IFP. TD Securities decreased their price target on Interfor from C$23.00 to C$22.00 in a report on Friday. BMO Capital Markets lowered their target price on shares of Interfor from C$27.00 to C$24.00 and set a “strong-buy” rating on the stock in a report on Tuesday, July 23rd. Scotiabank dropped their price target on shares of Interfor from C$26.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada lowered their price objective on Interfor from C$27.00 to C$24.00 in a report on Thursday, July 11th. Finally, Raymond James raised Interfor from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from C$26.00 to C$30.00 in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Interfor currently has an average rating of “Moderate Buy” and an average price target of C$24.50.

Interfor Stock Performance

Interfor stock traded up C$0.11 during midday trading on Friday, hitting C$19.27. 62,400 shares of the company’s stock were exchanged, compared to its average volume of 160,607. The firm’s 50 day simple moving average is C$19.22 and its 200 day simple moving average is C$17.99. Interfor has a 12-month low of C$15.35 and a 12-month high of C$26.00. The company has a debt-to-equity ratio of 62.31, a quick ratio of 1.15 and a current ratio of 2.02. The stock has a market cap of C$991.44 million, a price-to-earnings ratio of -2.75 and a beta of 2.54.

Interfor (TSE:IFP) last posted its quarterly earnings data on Thursday, August 8th. The company reported C($1.47) EPS for the quarter, missing the consensus estimate of C($1.17) by C($0.30). Interfor had a negative net margin of 11.26% and a negative return on equity of 20.18%. The company had revenue of C$771.20 million for the quarter, compared to analysts’ expectations of C$774.00 million. Equities research analysts predict that Interfor will post 2.8616667 EPS for the current 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.