Western Forest Products (TSE:WEF) Sets New 52-Week High – Here’s What Happened

Western Forest Products Inc. (TSE:WEF)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$18.13 and last traded at C$17.89, with a volume of 38887 shares changing hands. The stock had previously closed at C$16.77.

Wall Street Analysts Forecast Growth

WEF has been the subject of several recent research reports. Raymond James Financial upped their price objective on Western Forest Products from C$12.00 to C$13.50 and gave the company a “market perform” rating in a research note on Friday, February 20th. TD upped their price objective on Western Forest Products from C$16.00 to C$17.00 and gave the company a “hold” rating in a research note on Thursday, April 16th. Finally, Royal Bank Of Canada upped their price objective on Western Forest Products from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a research note on Thursday, April 16th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$15.70.

Western Forest Products Price Performance

The company has a 50 day moving average price of C$14.97 and a 200-day moving average price of C$13.74. The company has a market cap of C$191.42 million, a price-to-earnings ratio of -1.69, a P/E/G ratio of 0.32 and a beta of 0.27. The company has a quick ratio of 0.73, a current ratio of 2.63 and a debt-to-equity ratio of 15.10.

Western Forest Products (TSE:WEF) last announced its earnings results on Wednesday, May 6th. The company reported C($1.83) EPS for the quarter. Western Forest Products had a negative net margin of 12.23% and a negative return on equity of 22.88%. The company had revenue of C$201.50 million during the quarter. As a group, equities research analysts predict that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.

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. 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.