Raymond James Issues Pessimistic Forecast for Interfor (TSE:IFP) Stock Price

Interfor (TSE:IFP) had its price objective lowered by research analysts at Raymond James from C$30.00 to C$26.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ target price points to a potential upside of 44.20% from the company’s current price. 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.

Several other research analysts also recently commented on the company. CIBC lowered their target price on Interfor from C$23.00 to C$22.00 in a research note on Wednesday, January 15th. TD Securities dropped their target price on shares of Interfor from C$23.00 to C$22.00 in a report on Friday, November 8th. Finally, Royal Bank of Canada dropped their target price on shares of Interfor from C$27.00 to C$26.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Interfor currently has an average rating of “Moderate Buy” and a consensus target price of C$24.00.

Interfor Stock Performance

Shares of Interfor stock opened at C$18.03 on Tuesday. The company has a 50 day moving average of C$18.20 and a 200-day moving average of C$18.17. The company has a market cap of C$927.64 million, a PE ratio of -2.58 and a beta of 2.54. The company has a current ratio of 2.02, a quick ratio of 1.15 and a debt-to-equity ratio of 62.31. Interfor has a 1-year low of C$15.35 and a 1-year high of C$22.38.

Interfor (TSE:IFP) last issued its earnings results on Wednesday, November 6th. The company reported C($2.05) earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the company posted ($0.82) earnings per share. As a group, equities research analysts forecast that Interfor will post 2.8616667 earnings per share for the current fiscal year.

Insider Activity at Interfor

In other Interfor news, Director Ian Fillinger acquired 3,150 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of C$16.29 per share, for a total transaction of C$51,304.05. 0.94% of the stock is owned by company 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.