Interfor (TSE:IFP) Trading Down 7.9% – Here’s What Happened

Interfor Co. (TSE:IFP) shares traded down 7.9% during trading on Monday . The stock traded as low as C$15.45 and last traded at C$15.79. 94,365 shares traded hands during trading, a decline of 46% from the average session volume of 173,281 shares. The stock had previously closed at C$17.14.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IFP. Raymond James cut their price objective on Interfor from C$30.00 to C$26.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 30th. CIBC cut their price target on shares of Interfor from C$22.00 to C$20.00 in a research note on Tuesday, February 18th. 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. Scotiabank cut shares of Interfor from an “outperform” rating to a “sector perform” rating in a report on Monday. Finally, TD Securities reduced their target price on shares of Interfor from C$23.00 to C$22.00 in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$23.67.

Interfor Stock Performance

The stock has a 50-day moving average price of C$16.90 and a 200 day moving average price of C$18.17. The company has a quick ratio of 1.15, a current ratio of 1.69 and a debt-to-equity ratio of 61.24. The firm has a market capitalization of C$829.61 million, a price-to-earnings ratio of -1.96 and a beta of 2.54.

Insiders Place Their Bets

In other Interfor news, Director Ian Fillinger purchased 3,150 shares of the business’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of C$16.29 per share, for a total transaction 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.