Western Forest Products (OTCMKTS:WFSTF) Shares Up 3.7% – What’s Next?

Shares of Western Forest Products Inc. (OTCMKTS:WFSTF) shot up 3.7% during trading on Wednesday . The stock traded as high as $10.03 and last traded at $10.03. 2,968 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 7,047 shares. The stock had previously closed at $9.6760.

Wall Street Analyst Weigh In

Several research firms have commented on WFSTF. TD Securities reaffirmed a “hold” rating on shares of Western Forest Products in a report on Thursday, February 12th. Scotiabank reaffirmed a “sector perform” rating on shares of Western Forest Products in a report on Monday, January 26th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Western Forest Products in a report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Western Forest Products Stock Up 3.7%

The business’s fifty day simple moving average is $10.31 and its two-hundred day simple moving average is $9.58.

About Western Forest Products

Western Forest Products is a Canadian integrated forest products company headquartered in Vancouver, British Columbia. The company specializes in the harvesting, manufacturing and distribution of lumber and other wood products, operating a network of sawmills, remanufacturing facilities and log sort yards on both the British Columbia coast and Vancouver Island. Western Forest manages a diversified fibre portfolio that supports core lumber production as well as specialty lines.

The company’s product suite includes dimensional lumber, engineered wood products such as laminated veneer lumber (LVL), and value-added remanufactured items including mouldings and custom profiles.