Western Forest Products (TSE:WEF) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Western Forest Products Inc. (TSE:WEF)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$13.06 and traded as high as C$14.47. Western Forest Products shares last traded at C$14.45, with a volume of 44,435 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on WEF. TD Securities raised their price target on shares of Western Forest Products from C$14.00 to C$16.00 and gave the company a “hold” rating in a report on Thursday, February 12th. Scotiabank raised their price target on shares of Western Forest Products from C$12.50 to C$18.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. TD lifted their target price on shares of Western Forest Products from C$16.00 to C$17.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. Royal Bank Of Canada lifted their target price on shares of Western Forest Products from C$13.00 to C$14.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 16th. Finally, Raymond James Financial lifted their target price on shares of Western Forest Products from C$12.00 to C$13.50 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, Western Forest Products currently has an average rating of “Hold” and an average price target of C$15.70.

Western Forest Products Stock Performance

The company has a debt-to-equity ratio of 15.10, a quick ratio of 0.73 and a current ratio of 2.63. The firm’s 50 day simple moving average is C$14.20 and its 200 day simple moving average is C$13.06. The firm has a market capitalization of C$151.40 million, a price-to-earnings ratio of -1.90, a PEG ratio of 0.32 and a beta of 0.24.

Western Forest Products (TSE:WEF) last announced its quarterly earnings data 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 business had revenue of C$201.50 million for the quarter. Sell-side analysts forecast that Western Forest Products Inc. will post 0.004992 earnings per share for the current fiscal year.

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.