Interfor (TSE:IFP) Stock Crosses Below 50-Day Moving Average – Here’s What Happened

Interfor Co. (TSE:IFP)’s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$18.70 and traded as low as C$17.27. Interfor shares last traded at C$17.34, with a volume of 98,660 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. CIBC lifted their target price on shares of Interfor from C$22.00 to C$23.00 in a research report on Friday, November 8th. Royal Bank of Canada dropped their price target on Interfor from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Raymond James raised Interfor from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from C$26.00 to C$30.00 in a research report on Tuesday, October 22nd. Finally, TD Securities decreased their target price on Interfor from C$23.00 to C$22.00 in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$24.83.

Interfor Price Performance

The company has a current ratio of 2.02, a quick ratio of 1.15 and a debt-to-equity ratio of 62.31. The stock has a market cap of C$892.14 million, a PE ratio of -2.48 and a beta of 2.54. The business has a 50-day moving average price of C$18.70 and a 200 day moving average price of C$18.12.

Insider Buying and Selling at Interfor

In other Interfor news, Director Ian Fillinger acquired 5,490 shares of Interfor stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of C$18.48 per share, for a total transaction of C$101,433.24. Insiders own 0.94% of the company’s stock.

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.