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

Western Forest Products (TSE:WEF) had its target price upped by Royal Bank Of Canada from C$16.00 to C$18.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 4.31% from the company’s current price.

A number of other research firms also recently weighed in on WEF. Raymond James Financial increased their target price on shares of Western Forest Products from C$12.50 to C$20.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. TD upped their price objective on Western Forest Products from C$17.00 to C$19.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$18.40.

Western Forest Products Stock Performance

Shares of TSE WEF traded up C$0.07 during mid-day trading on Friday, reaching C$18.81. 34,655 shares of the company’s stock were exchanged, compared to its average volume of 41,188. The firm has a 50-day moving average price of C$17.83 and a two-hundred day moving average price of C$15.70. The company has a debt-to-equity ratio of 15.10, a current ratio of 2.63 and a quick ratio of 0.73. The firm has a market capitalization of C$198.60 million, a price-to-earnings ratio of -1.75, a price-to-earnings-growth ratio of 0.32 and a beta of 0.23. Western Forest Products has a 52 week low of C$10.16 and a 52 week high of C$19.40.

Western Forest Products (TSE:WEF) last posted its quarterly earnings results on Wednesday, August 12th. The company reported C$1.10 earnings per share 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$239.60 million during the quarter. Analysts predict that Western Forest Products will post 0.004992 EPS for the current year.

Insider Activity at Western Forest Products

In other news, Director Elizabeth Kernaghan sold 1,800 shares of the firm’s stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of C$19.05, for a total value of C$34,290.00. Following the completion of the transaction, the director directly owned 1,889,000 shares of the company’s stock, valued at C$35,985,450. This trade represents a 0.10% decrease in their ownership of the stock. Also, insider Kernwood Limited sold 2,700 shares of Western Forest Products stock in a transaction on Thursday, June 18th. The shares were sold at an average price of C$19.00, for a total value of C$51,300.00. Following the completion of the transaction, the insider owned 1,900,800 shares of the company’s stock, valued at approximately C$36,115,200. This trade represents a 0.14% decrease in their ownership of the stock. Over the last ninety days, insiders sold 14,200 shares of company stock valued at $270,980. 0.67% of the stock is owned by insiders.

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.