Western Forest Products (TSE:WEF) Price Target Raised to C$18.00

Western Forest Products (TSE:WEF) had its price target lifted by Scotiabank from C$12.50 to C$18.00 in a research note published on Monday,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Western Forest Products Price Performance

TSE:WEF opened at C$15.16 on Monday. Western Forest Products has a 52 week low of C$10.16 and a 52 week high of C$15.75. The stock’s fifty day moving average is C$11.86 and its two-hundred day moving average is C$12.13. The company has a market capitalization of C$160.06 million, a P/E ratio of -2.46, a P/E/G ratio of 0.32 and a beta of 1.04. The company has a quick ratio of 0.73, a current ratio of 3.04 and a debt-to-equity ratio of 19.61.

Western Forest Products (TSE:WEF) last released its quarterly earnings results on Wednesday, November 5th. The company reported C($5.71) earnings per share for the quarter. The business had revenue of C$233.00 million for the quarter. Western Forest Products had a negative return on equity of 7.69% and a negative net margin of 4.21%. Equities analysts expect that Western Forest Products will post 0.004992 EPS for the current year.

Insider Buying and Selling

In related news, insider Kernwood Limited bought 2,600 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average price of C$11.55 per share, for a total transaction of C$30,030.00. Following the acquisition, the insider owned 1,791,200 shares of the company’s stock, valued at approximately C$20,688,360. This trade represents a 0.15% increase in their ownership of the stock. Also, Director Elizabeth Kernaghan bought 2,600 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was purchased at an average cost of C$11.55 per share, for a total transaction of C$30,030.00. Following the transaction, the director owned 1,791,200 shares of the company’s stock, valued at C$20,688,360. This trade represents a 0.15% increase in their ownership of the stock. Insiders bought a total of 73,200 shares of company stock worth $849,536 over the last three months. Insiders own 0.67% of the company’s stock.

Western Forest Products Company Profile

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. The firm purchases and harvests logs which are then manufactured into lumber products at its sawmills, or sold. Canada and the United States, represent the company’s largest markets and contribute the vast majority of its total revenue.