CIBC Cuts Interfor (TSE:IFP) Price Target to C$9.00

Interfor (TSE:IFP) had its price target dropped by stock analysts at CIBC from C$10.00 to C$9.00 in a report issued on Tuesday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 18.42% from the stock’s current price.

Several other equities research analysts have also recently commented on IFP. Scotiabank lowered their price target on shares of Interfor from C$20.00 to C$18.00 and set a “sector perform” rating for the company in a research report on Monday, August 11th. Royal Bank Of Canada dropped their target price on shares of Interfor from C$17.00 to C$14.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Raymond James Financial reduced their price objective on Interfor from C$19.00 to C$15.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. Finally, TD Securities decreased their price objective on Interfor from C$15.00 to C$12.00 and set a “hold” rating for the company in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$13.60.

Interfor Price Performance

Shares of Interfor stock traded down C$0.11 during trading on Tuesday, reaching C$7.60. The company’s stock had a trading volume of 232,622 shares, compared to its average volume of 258,771. Interfor has a one year low of C$7.21 and a one year high of C$21.23. The stock has a 50-day moving average price of C$10.08 and a two-hundred day moving average price of C$11.98. The stock has a market capitalization of C$499.75 million, a P/E ratio of -2.18 and a beta of 2.38. The company has a current ratio of 1.69, a quick ratio of 1.15 and a debt-to-equity ratio of 61.24.

About Interfor

Interfor Corp produces and sells lumber, timber, and other wood products. The company operates sawmills to convert timber into lumber, logs, wood chips, and other wood products for sale. The firm also harvests timber for its sawmills on forest land owned by the Canadian government. Interfor pays the Canadian government stumpage fees based on the number of trees it harvests.