Raymond James Cuts Interfor (TSE:IFP) Price Target to C$26.00

Interfor (TSE:IFP) had its price target trimmed by Raymond James from C$30.00 to C$26.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a strong-buy rating on the stock. Raymond James also issued estimates for Interfor’s FY2024 earnings at ($5.49) EPS, FY2025 earnings at ($0.92) EPS and FY2026 earnings at $3.16 EPS.

A number of other research firms have also recently weighed in on IFP. Royal Bank of Canada cut their price target on Interfor from C$27.00 to C$26.00 and set an “outperform” rating for the company in a report on Friday, December 20th. CIBC dropped their price objective on Interfor from C$23.00 to C$22.00 in a research report on Wednesday, January 15th. 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. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$24.00.

Interfor Price Performance

Interfor stock opened at C$18.40 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 2.02 and a debt-to-equity ratio of 62.31. The firm’s 50-day simple moving average is C$18.20 and its 200 day simple moving average is C$18.17. Interfor has a 52 week low of C$15.35 and a 52 week high of C$22.38. The firm has a market capitalization of C$946.68 million, a PE ratio of -2.63 and a beta of 2.54.

Interfor (TSE:IFP) last released its quarterly earnings results on Wednesday, November 6th. The company reported C($2.05) EPS for the quarter, missing the consensus estimate of C($1.58) by C($0.47). Interfor had a negative net margin of 11.26% and a negative return on equity of 20.18%. During the same quarter last year, the business earned ($0.82) earnings per share. On average, equities research analysts predict that Interfor will post 2.8616667 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ian Fillinger purchased 3,150 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of C$16.29 per share, with a total value 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.