Interfor (TSE:IFP) Reaches New 52-Week Low – Here’s What Happened

Interfor Co. (TSE:IFP)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$15.01 and last traded at C$15.07, with a volume of 60805 shares. The stock had previously closed at C$15.28.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Raymond James lowered their price target on shares of Interfor from C$30.00 to C$26.00 and set a “strong-buy” rating for the company in a report on Thursday, January 30th. Royal Bank of Canada lowered their price objective on shares of Interfor from C$27.00 to C$26.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. CIBC dropped their target price on shares of Interfor from C$22.00 to C$20.00 in a report on Tuesday, February 18th. Finally, Scotiabank downgraded Interfor from an “outperform” rating to a “sector perform” rating in a report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$23.67.

Interfor Stock Performance

The company’s 50-day moving average price is C$16.77 and its 200 day moving average price is C$18.12. The stock has a market capitalization of C$772.13 million, a PE ratio of -1.82 and a beta of 2.54. The company has a debt-to-equity ratio of 61.24, a quick ratio of 1.15 and a current ratio of 1.69.

Insiders Place Their Bets

In other news, Director Ian Fillinger purchased 3,150 shares of Interfor stock in a transaction that occurred on Monday, December 30th. The shares were bought 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 currently owned by company 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.