Interfor (TSE:IFP) Sets New 1-Year High – Time to Buy?

Interfor Co. (TSE:IFP)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$15.29 and last traded at C$15.14, with a volume of 225253 shares traded. The stock had previously closed at C$14.08.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IFP. TD lifted their price target on shares of Interfor from C$14.00 to C$16.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Raymond James Financial raised Interfor from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from C$17.00 to C$21.00 in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$14.17.

Interfor Stock Performance

The stock has a fifty day simple moving average of C$13.64 and a two-hundred day simple moving average of C$11.45. The company has a debt-to-equity ratio of 71.48, a quick ratio of 1.15 and a current ratio of 1.96. The stock has a market cap of C$973.35 million, a price-to-earnings ratio of -2.20 and a beta of 1.75.

About Interfor

Interfor is a forest products company with operations in Canada and the United States. The Company has annual lumber production capacity of approximately 4.4 billion board feet and offers a diverse line of lumber products to customers around the world.