Western Forest Products (TSE:WEF) Stock Passes Below 200-Day Moving Average – What’s Next?

Shares of Western Forest Products Inc. (TSE:WEF) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$12.22 and traded as low as C$11.82. Western Forest Products shares last traded at C$11.85, with a volume of 19,097 shares changing hands.

Analyst Upgrades and Downgrades

WEF has been the topic of a number of analyst reports. Raymond James Financial boosted their target price on shares of Western Forest Products to C$10.00 in a report on Friday, August 8th. Scotiabank boosted their target price on shares of Western Forest Products to C$15.00 in a report on Friday, August 1st. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$13.38.

Western Forest Products Price Performance

The business’s fifty day simple moving average is C$12.43 and its 200-day simple moving average is C$12.22. The company has a current ratio of 3.04, a quick ratio of 0.73 and a debt-to-equity ratio of 19.61. The firm has a market cap of C$125.11 million, a P/E ratio of -5.28, a PEG ratio of 0.32 and a beta of 0.65.

Insiders Place Their Bets

In other news, Director Elizabeth Kernaghan purchased 20,200 shares of Western Forest Products stock in a transaction dated Monday, September 8th. The stock was purchased at an average cost of C$12.23 per share, for a total transaction of C$247,046.00. Following the transaction, the director directly owned 1,609,800 shares of the company’s stock, valued at approximately C$19,687,854. This trade represents a 1.27% increase in their ownership of the stock. Also, insider Kernwood Limited purchased 20,200 shares of Western Forest Products stock in a transaction dated Monday, September 8th. The shares were purchased at an average price of C$12.23 per share, with a total value of C$247,046.00. Following the completion of the transaction, the insider directly owned 1,609,800 shares in the company, valued at approximately C$19,687,854. This represents a 1.27% increase in their ownership of the stock. Insiders have bought a total of 147,200 shares of company stock valued at $1,796,800 over the last 90 days. Company insiders own 0.67% of the company’s stock.

About Western Forest Products

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales.