Western Forest Products (TSE:WEF) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Western Forest Products Inc. (TSE:WEF)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$15.65 and traded as high as C$19.10. Western Forest Products shares last traded at C$18.46, with a volume of 25,368 shares traded.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WEF. Royal Bank Of Canada boosted their price target on shares of Western Forest Products from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a report on Thursday, April 16th. Raymond James Financial lifted their price objective on shares of Western Forest Products from C$12.50 to C$20.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Finally, TD boosted their target price on shares of 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 research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$17.40.

Western Forest Products Price Performance

The company has a current ratio of 2.63, a quick ratio of 0.73 and a debt-to-equity ratio of 15.10. The stock has a 50-day simple moving average of C$17.80 and a 200 day simple moving average of C$15.68. The stock has a market capitalization of C$197.86 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 (TSE:WEF) last released its quarterly earnings data 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 firm had revenue of C$239.60 million for the quarter. On average, equities research analysts forecast that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kernwood Limited sold 2,700 shares of Western Forest Products stock in a transaction on Thursday, June 18th. The stock was sold at an average price of C$19.00, for a total transaction of C$51,300.00. Following the completion of the sale, 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. Also, Director Elizabeth Kernaghan sold 1,800 shares of the business’s stock in a transaction dated Tuesday, July 14th. The shares were 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 owned 1,889,000 shares in the company, valued at C$35,985,450. This trade represents a 0.10% decrease in their position. Insiders sold 14,200 shares of company stock worth $270,980 over the last ninety days. 0.67% of the stock is currently owned by company insiders.

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.