Interfor (TSE:IFP) Shares Cross Below 200 Day Moving Average – Here’s Why

Interfor Co. (TSE:IFP)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$18.20 and traded as low as C$16.18. Interfor shares last traded at C$17.14, with a volume of 471,401 shares trading hands.

Analyst Ratings Changes

A number of research firms have issued reports on IFP. Royal Bank of Canada decreased their target price on Interfor from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. CIBC decreased their target price on Interfor from C$22.00 to C$20.00 in a research report on Tuesday, February 18th. TD Securities decreased their target price on Interfor from C$23.00 to C$22.00 in a research report on Friday, November 8th. Finally, Raymond James reduced their price target on Interfor from C$30.00 to C$26.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$23.67.

Interfor Stock Performance

The stock has a 50 day moving average of C$16.94 and a 200 day moving average of C$18.20. The company has a quick ratio of 1.15, a current ratio of 1.69 and a debt-to-equity ratio of 61.24. The company has a market capitalization of C$887.61 million, a price-to-earnings ratio of -2.10 and a beta of 2.54.

Insider Buying and Selling

In related news, Director Ian Fillinger acquired 3,150 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average cost of C$16.29 per share, with a total value of C$51,304.05. 0.94% of the stock is owned by 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.