Interfor (TSE:IFP) Upgraded to Neutral at Canadian Imperial Bank of Commerce

Interfor (TSE:IFP) was upgraded by equities researchers at Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports.

A number of other equities analysts also recently weighed in on IFP. Scotiabank upgraded shares of Interfor from a “hold” rating to an “outperform” rating and boosted their target price for the stock from C$13.00 to C$14.00 in a report on Monday, January 26th. Royal Bank Of Canada decreased their price objective 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. Raymond James Financial upgraded shares of Interfor from a “moderate buy” rating to a “strong-buy” rating and boosted their price objective for the stock from C$12.00 to C$14.00 in a research note on Wednesday, January 14th. Finally, TD Securities upped their target price on shares of Interfor from C$11.00 to C$13.00 and gave the company a “hold” rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Interfor presently has a consensus rating of “Moderate Buy” and a consensus price target of C$12.40.

Interfor Stock Up 0.8%

IFP stock traded up C$0.07 during mid-day trading on Friday, reaching C$8.64. The company had a trading volume of 221,072 shares, compared to its average volume of 349,982. The company has a market capitalization of C$568.23 million, a price-to-earnings ratio of -1.38 and a beta of 1.88. Interfor has a 52 week low of C$7.05 and a 52 week high of C$16.25. The stock has a 50 day simple moving average of C$10.11 and a two-hundred day simple moving average of C$9.55. The company has a debt-to-equity ratio of 68.89, a current ratio of 1.78 and a quick ratio of 1.15.

About Interfor

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.