Western Forest Products (TSE:WEF – Get Free Report) had its price objective decreased by research analysts at TD Securities from C$0.75 to C$0.65 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ price objective would indicate a potential upside of 16.07% from the company’s current price.
Other equities analysts also recently issued research reports about the company. Royal Bank of Canada dropped their price objective on Western Forest Products from C$1.00 to C$0.80 and set a “sector perform” rating on the stock in a report on Tuesday, December 19th. Scotiabank set a C$0.80 price target on Western Forest Products and gave the company a “sector perform” rating in a report on Monday, January 22nd. Finally, CIBC lowered their price target on Western Forest Products from C$0.75 to C$0.65 and set a “neutral” rating on the stock in a report on Thursday, February 15th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, Western Forest Products currently has an average rating of “Hold” and a consensus target price of C$0.73.
View Our Latest Research Report on WEF
Western Forest Products Price Performance
Western Forest Products (TSE:WEF – Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported C($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.05) by C$0.01. Western Forest Products had a negative net margin of 6.73% and a negative return on equity of 11.50%. The business had revenue of C$246.60 million during the quarter. Equities research analysts predict that Western Forest Products will post 0.004992 earnings per share for the current fiscal year.
Insider Transactions at Western Forest Products
In related news, Senior Officer Joseph Steven Hofer acquired 100,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of C$0.63 per share, for a total transaction of C$63,000.00. 0.51% of the stock is currently owned by corporate insiders.
About Western Forest Products
Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.
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