Raymond James Cuts Interfor (TSE:IFP) Price Target to C$26.00

Interfor (TSE:IFP) had its price target dropped by analysts at Raymond James from C$30.00 to C$26.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price objective would suggest a potential upside of 48.23% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada decreased their price target on Interfor from C$27.00 to C$26.00 and set an “outperform” rating for the company in a report on Friday, December 20th. TD Securities reduced their target price on Interfor from C$23.00 to C$22.00 in a report on Friday, November 8th. Finally, CIBC reduced their target price on Interfor from C$23.00 to C$22.00 in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$24.00.

Interfor Stock Performance

Shares of IFP stock traded up C$0.28 during trading hours on Thursday, hitting C$17.54. The stock had a trading volume of 16,430 shares, compared to its average volume of 125,202. The firm has a market capitalization of C$902.43 million, a PE ratio of -2.51 and a beta of 2.54. Interfor has a twelve month low of C$15.35 and a twelve month high of C$22.38. The stock’s 50 day moving average is C$18.04 and its 200 day moving average is C$18.23. The company has a debt-to-equity ratio of 62.31, a current ratio of 2.02 and a quick ratio of 1.15.

Interfor (TSE:IFP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C($2.05) earnings per share for the quarter, missing the consensus estimate of C($1.58) by C($0.47). Interfor had a negative return on equity of 20.18% and a negative net margin of 11.26%. During the same period last year, the company earned ($0.82) EPS. As a group, research analysts forecast that Interfor will post 2.8616667 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ian Fillinger acquired 3,150 shares of Interfor stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of C$16.29 per share, with a total value of C$51,304.05. 0.94% of the stock is owned by corporate insiders.

Interfor Company Profile

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.