BMO Capital Markets Trims Interfor (IFP) Target Price to C$18.00

Interfor (TSE:IFP) had its price target cut by stock analysts at BMO Capital Markets from C$24.00 to C$18.00 in a research note issued on Friday. BMO Capital Markets’ price objective points to a potential upside of 13.42% from the company’s previous close.

IFP has been the subject of a number of other reports. CIBC dropped their target price on Interfor from C$26.00 to C$23.00 in a report on Monday. TD Securities raised Interfor from a “buy” rating to an “action list buy” rating and set a C$31.00 target price for the company in a report on Tuesday, August 7th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of C$27.42.

Shares of IFP traded down C$0.48 during mid-day trading on Friday, reaching C$15.87. The company had a trading volume of 496,518 shares, compared to its average volume of 359,237. Interfor has a twelve month low of C$15.22 and a twelve month high of C$27.27.

Interfor (TSE:IFP) last issued its earnings results on Thursday, August 2nd. The company reported C$0.98 earnings per share (EPS) for the quarter. Interfor had a return on equity of 17.37% and a net margin of 6.79%. The business had revenue of C$619.89 million during the quarter.

In other Interfor news, insider Ian Fillinger purchased 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The stock was purchased at an average cost of C$18.91 per share, with a total value of C$47,275.00. Also, insider Barton Bender purchased 3,200 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were acquired at an average cost of C$20.45 per share, with a total value of C$65,440.00.

About Interfor

Interfor Corporation, together with its subsidiaries, produces wood products. The company offers commodity structural lumber products; and specialty products, such as decking and siding products, machine stress rated products, industrial timber products, and various appearance grade items. It also provides wood chips and other residuals.

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