Interfor (TSE:IFP) Shares Down 10.4% – Here’s Why

Interfor Co. (TSE:IFP)’s share price dropped 10.4% on Friday . The stock traded as low as C$7.95 and last traded at C$7.99. Approximately 144,939 shares traded hands during trading, a decline of 55% from the average daily volume of 318,837 shares. The stock had previously closed at C$8.92.

Analyst Ratings Changes

IFP has been the subject of several recent analyst reports. TD Securities raised their target price on Interfor from C$11.00 to C$13.00 and gave the company a “hold” rating in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce raised shares of Interfor from a “strong sell” rating to a “hold” rating in a research report on Friday, March 20th. Raymond James Financial cut shares of Interfor from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from C$14.00 to C$13.00 in a research report on Friday, April 24th. Royal Bank Of Canada reduced their price target on shares of Interfor from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Finally, TD reduced their price target on shares of Interfor from C$13.00 to C$12.00 and set a “hold” rating on the stock in a research report on Thursday, April 16th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$12.17.

Interfor Stock Down 4.9%

The company has a debt-to-equity ratio of 68.89, a current ratio of 1.78 and a quick ratio of 1.15. The stock’s fifty day simple moving average is C$9.65 and its 200-day simple moving average is C$9.29. The stock has a market cap of C$557.70 million, a P/E ratio of -1.35 and a beta of 1.70.

Interfor (TSE:IFP) last issued its earnings results on Thursday, May 14th. The company reported C($0.96) earnings per share (EPS) for the quarter. Interfor had a negative return on equity of 25.24% and a negative net margin of 12.27%.The business had revenue of C$643.20 million during the quarter. On average, research analysts anticipate that Interfor Co. will post 2.8616667 earnings per share for the current 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.