TD Issues Positive Forecast for Western Forest Products (TSE:WEF) Stock Price

Western Forest Products (TSE:WEF) had its price target hoisted by TD from C$19.00 to C$20.00 in a research report report published on Friday morning,BayStreet.CA reports. TD currently has a hold rating on the stock.

Several other equities analysts also recently issued reports on WEF. Raymond James Financial raised their price target 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 note on Monday, July 27th. Royal Bank Of Canada increased their target price on shares of Western Forest Products from C$16.00 to C$18.00 and gave the company a “sector perform” rating in a research report on Friday. Five equities research 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 price target of C$18.40.

Western Forest Products Stock Performance

TSE:WEF opened at C$18.75 on Friday. Western Forest Products has a fifty-two week low of C$10.16 and a fifty-two week high of C$19.40. The stock has a fifty day moving average price of C$17.88 and a 200-day moving average price of C$15.73. The company has a debt-to-equity ratio of 12.63, a quick ratio of 0.73 and a current ratio of 2.44. The company has a market cap of C$197.96 million, a price-to-earnings ratio of -1.75, a PEG ratio of 0.32 and a beta of 0.23.

Western Forest Products (TSE:WEF) last posted its earnings results on Wednesday, August 12th. The company reported C$1.10 EPS for the quarter. Western Forest Products had a negative net margin of 9.64% and a negative return on equity of 17.78%. The firm had revenue of C$239.60 million during the quarter. As a group, equities analysts anticipate that Western Forest Products will post 0.004992 EPS for the current fiscal year.

Insider Activity

In other 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 value of C$51,300.00. Following the completion of the transaction, the insider directly owned 1,900,800 shares in the company, valued at approximately C$36,115,200. The trade was a 0.14% decrease in their ownership of the stock. Also, Director Elizabeth Kernaghan sold 1,800 shares of the stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of C$19.05, for a total transaction of C$34,290.00. Following the completion of the sale, the director directly owned 1,889,000 shares in the company, valued at approximately C$35,985,450. The trade was a 0.10% decrease in their ownership of the stock. In the last 90 days, insiders have sold 14,200 shares of company stock valued at $270,980. 0.67% of the stock is owned by company 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.