CIBC Has Lowered Expectations for Interfor (TSE:IFP) Stock Price

Interfor (TSE:IFP) had its price objective cut by CIBC from C$22.00 to C$20.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 11.67% from the stock’s current price.

Several other research firms have also commented on IFP. TD Securities cut their target price on Interfor from C$23.00 to C$22.00 in a research report on Friday, November 8th. 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 research report on Thursday, January 30th. Finally, Royal Bank of Canada lowered their target price 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. Three investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$23.67.

Interfor Price Performance

IFP stock traded up C$1.13 during trading on Tuesday, hitting C$17.91. The stock had a trading volume of 196,853 shares, compared to its average volume of 162,063. The company has a debt-to-equity ratio of 61.24, a current ratio of 1.69 and a quick ratio of 1.15. Interfor has a twelve month low of C$15.22 and a twelve month high of C$22.38. The stock has a market capitalization of C$927.48 million, a P/E ratio of -2.19 and a beta of 2.54. The company’s 50-day moving average price is C$17.11 and its two-hundred day moving average price is C$18.23.

Insider Buying and Selling at Interfor

In other news, Director Ian Fillinger bought 3,150 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of C$16.29 per share, for a total transaction of C$51,304.05. 0.94% of the stock is currently 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.