Interfor (TSE:IFP) Share Price Passes Above 50-Day Moving Average of $29.12

Posted by MarketBeat News on Aug 4th, 2022

Interfor Co. (TSE:IFP – Get Rating)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$29.12 and traded as high as C$32.17. Interfor shares last traded at C$32.10, with a volume of 189,376 shares trading hands.

Analysts Set New Price Targets

IFP has been the topic of a number of analyst reports. Royal Bank of Canada lowered their target price on Interfor from C$50.00 to C$45.00 in a report on Thursday, April 7th. CIBC lowered their target price on Interfor from C$45.00 to C$40.00 in a report on Friday, July 8th.

Interfor Stock Up 1.3 %

The firm has a 50 day moving average price of C$29.12 and a two-hundred day moving average price of C$34.07. The company has a quick ratio of 0.85, a current ratio of 1.98 and a debt-to-equity ratio of 24.83. The company has a market capitalization of C$1.76 billion and a price-to-earnings ratio of 2.07.

Interfor (TSE:IFP – Get Rating) last announced its earnings results on Wednesday, May 11th. The company reported C$6.61 earnings per share for the quarter, missing the consensus estimate of C$7.38 by C($0.77). The firm had revenue of C$1.35 billion during the quarter. As a group, sell-side analysts expect that Interfor Co. will post 5.5199999 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ian Fillinger bought 4,000 shares of the firm’s stock in a transaction on Friday, June 17th. The stock was bought at an average cost of C$25.14 per share, for a total transaction of C$100,552.00. Following the completion of the purchase, the director now directly owns 64,770 shares in the company, valued at approximately C$1,628,188.26. In other news, Director Ian Fillinger bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The shares were purchased at an average price of C$25.14 per share, with a total value of C$100,552.00. Following the completion of the acquisition, the director now directly owns 64,770 shares in the company, valued at C$1,628,188.26. Also, Senior Officer Richard Pozzebon bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were purchased at an average cost of C$33.37 per share, for a total transaction of C$100,110.00. Following the acquisition, the insider now owns 10,146 shares of the company’s stock, valued at C$338,572.02. Over the last three months, insiders bought 8,000 shares of company stock worth $225,912.

About Interfor

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Interfor Corporation, together with its subsidiaries, produces and sells wood products in Canada, the United States, Japan, China, Taiwan, and internationally. The company offers lumber products for decking, fascia and trims, framings, furniture, industrial packaging, Japan Zairai, millworks, paneling, sidings, trusses, and windows and doors.