Western Forest Products (TSE:WEF) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Western Forest Products Inc. (TSE:WEF) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$16.67 and traded as low as C$15.52. Western Forest Products shares last traded at C$15.74, with a volume of 16,226 shares.

Wall Street Analyst Weigh In

WEF has been the topic of several research reports. TD raised their price objective on Western Forest Products from C$19.00 to C$20.00 and gave the stock a “hold” rating in a report on Friday, August 14th. Royal Bank Of Canada increased their price objective 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 note on Friday, August 14th. Finally, Raymond James Financial increased their target price on Western Forest Products from C$12.50 to C$20.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$18.40.

Western Forest Products Stock Down 2.2%

The company has a debt-to-equity ratio of 12.63, a current ratio of 2.44 and a quick ratio of 0.73. The business’s fifty day moving average price is C$18.02 and its two-hundred day moving average price is C$16.69. The stock has a market capitalization of C$161.01 million, a PE ratio of -1.91, a price-to-earnings-growth ratio of 0.32 and a beta of -0.06.

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

Insider Transactions at Western Forest Products

In other Western Forest Products news, Director Elizabeth Kernaghan sold 1,800 shares of the stock in a transaction that occurred on 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 transaction, the director owned 1,889,000 shares in the company, valued at approximately C$35,985,450. This represents a 0.10% decrease in their ownership of the stock. Also, insider Kernwood Limited sold 1,800 shares of the stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of C$19.05, for a total transaction of C$34,290.00. Following the transaction, the insider 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. 0.67% of the stock is owned by company insiders.

Western Forest Products Company Profile

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity of 785 million board feet from five sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing facilities.