Interfor (TSE:IFP) Share Price Passes Below 50 Day Moving Average – What’s Next?

Interfor Co. (TSE:IFP)’s stock 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 changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IFP shares. CIBC lifted their price target on Interfor from C$22.00 to C$23.00 in a research report on Friday, November 8th. Raymond James raised shares of Interfor from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from C$26.00 to C$30.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada decreased their price target on shares of Interfor from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Finally, TD Securities dropped their price objective on shares of Interfor from C$23.00 to C$22.00 in a report on Friday, November 8th. Three research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$24.83.

Interfor Price Performance

The stock has a market capitalization of C$892.14 million, a PE ratio of -2.48 and a beta of 2.54. The company has a debt-to-equity ratio of 62.31, a current ratio of 2.02 and a quick ratio of 1.15. The firm’s 50 day simple moving average is C$18.70 and its 200 day simple moving average is C$18.12.

Insider Buying and Selling

In related news, Director Ian Fillinger bought 3,150 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was 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 owned by corporate insiders.

About Interfor

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.