Royal Bank of Canada Lowers Price Target for Interfor Stock

In a recent research report, Royal Bank of Canada announced a reduction in their price target for Interfor Corporation (TSE: IFP), lowering it from C$27.00 to C$26.00. This adjustment was communicated to investors on Friday and comes with an "outperform" rating for the stock. Based on this new target, there is a potential upside of approximately 53.48% from the stock's previous closing price.

Market analysts have been active in their evaluations of Interfor. On the same day, TD Securities revised their price target for the stock from C$23.00 to C$22.00. Earlier, on October 22, Raymond James upgraded Interfor from an "outperform" rating to a "strong-buy" rating, increasing their price target from C$26.00 to C$30.00. CIBC also raised their price target from C$22.00 to C$23.00 on November 8. Overall, the consensus rating among analysts for Interfor is categorized as a "Moderate Buy", with an average price target of C$24.83.

Stock Performance Overview

Interfor shares experienced a slight increase of C$0.24 during Friday's trading session, climbing to C$16.94. The trading volume for the day was 78,033 shares, which is lower than the average volume of 158,507 shares. The stock has recorded a twelve-month low of C$15.35 and a twelve-month high of C$25.59. Furthermore, Interfor's fifty-day moving average is C$19.58, while the two-hundred day moving average stands at C$18.20. The company's financial ratios reflect a quick ratio of 1.15, a current ratio of 2.02, and a debt-to-equity ratio of 62.31. Currently, Interfor holds a market capitalization of C$871.56 million and has a PE ratio of -2.42 along with a beta of 2.54.

Insider Transactions

In related news, Director Ian Fillinger made a move to acquire shares of Interfor, purchasing 5,490 shares at an average price of C$18.48 per share on December 12. This purchase amounted to a total transaction of C$101,433.24. Company insiders currently hold 0.94% of the stock.

Company Overview

Interfor Corporation, through its subsidiaries, engages in the production and sale of wood products both domestically and internationally, including markets in Canada, the United States, Japan, China, and Taiwan. The company offers a variety of products such as decking, framing, paneling, and siding, as well as appearance and structural items.

Interfor, Stocks, Royal, Bank, Canada