Western Forest Products (TSE:WEF) Price Target Raised to C$19.00 at TD

Western Forest Products (TSE:WEF) had its price objective raised by research analysts at TD from C$17.00 to C$19.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD’s target price suggests a potential upside of 1.44% from the stock’s current price.

Separately, Royal Bank Of Canada increased their price target on 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. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Western Forest Products has a consensus rating of “Hold” and a consensus target price of C$16.10.

Western Forest Products Stock Up 8.9%

Western Forest Products stock traded up C$1.53 during midday trading on Tuesday, hitting C$18.73. 34,659 shares of the stock were exchanged, compared to its average volume of 42,285. Western Forest Products has a 1 year low of C$10.16 and a 1 year high of C$19.40. 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 cap of C$197.75 million, a P/E ratio of -1.75, a P/E/G ratio of 0.32 and a beta of 0.22. The company has a 50 day moving average price of C$16.28 and a two-hundred day moving average price of C$14.75.

Western Forest Products (TSE:WEF) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C($1.83) earnings per share for the quarter. The firm had revenue of C$201.50 million during the quarter. Western Forest Products had a negative net margin of 12.23% and a negative return on equity of 22.88%. On average, sell-side analysts predict that Western Forest Products will post 0.004992 earnings per share for the current fiscal year.

Insider Transactions at Western Forest Products

In other Western Forest Products news, insider Kernwood Limited sold 2,700 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of C$19.00, for a total transaction of C$51,300.00. Following the transaction, the insider directly owned 1,900,800 shares in the company, valued at C$36,115,200. This represents a 0.14% decrease in their position. Insiders have sold 10,600 shares of company stock valued at $202,400 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.

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.