Raymond James Financial Upgrades Interfor (TSE:IFP) to “Strong-Buy”

Interfor (TSE:IFP) was upgraded by equities researchers at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a C$14.00 target price on the stock, up from their previous target price of C$12.00. Raymond James Financial’s target price would indicate a potential upside of 36.32% from the stock’s previous close.

Several other brokerages have also recently commented on IFP. TD Securities decreased their price objective on shares of Interfor from C$15.00 to C$12.00 and set a “hold” rating for the company in a research note on Thursday, October 2nd. Royal Bank Of Canada decreased their target price on shares of Interfor from C$14.00 to C$13.00 and set an “outperform” rating for the company in a research report on Thursday, December 18th. CIBC downgraded Interfor from a “neutral” rating to an “underperform” rating and cut their price target for the stock from C$9.00 to C$8.00 in a research report on Tuesday, December 9th. Finally, Cibc Captl Mkts lowered Interfor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$13.00.

Interfor Stock Performance

Shares of IFP traded up C$0.72 during trading hours on Wednesday, reaching C$10.27. 596,345 shares of the company traded hands, compared to its average volume of 316,374. The stock has a market capitalization of C$675.32 million, a P/E ratio of -1.82 and a beta of 2.48. The company has a quick ratio of 1.15, a current ratio of 1.69 and a debt-to-equity ratio of 61.24. The business has a fifty day moving average price of C$8.24 and a 200-day moving average price of C$10.40. Interfor has a 12-month low of C$7.05 and a 12-month high of C$18.78.

Interfor (TSE:IFP) last posted its quarterly earnings results on Thursday, November 6th. The company reported C($4.19) earnings per share for the quarter. Interfor had a negative net margin of 13.82% and a negative return on equity of 25.85%. The firm had revenue of C$689.30 million for the quarter. Equities analysts anticipate that Interfor 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.