Western Forest Products (TSE:WEF) Price Target Cut to C$0.60 by Analysts at TD Securities

Western Forest Products (TSE:WEF) had its price objective lowered by equities researchers at TD Securities from C$0.65 to C$0.60 in a report released on Thursday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ price objective would indicate a potential upside of 17.65% from the stock’s previous close.

Several other analysts also recently weighed in on WEF. Scotiabank set a C$0.80 price objective on shares of Western Forest Products and gave the company a “sector perform” rating in a research report on Monday, January 22nd. CIBC cut their price objective on shares of Western Forest Products from C$0.65 to C$0.60 in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$0.71.

Western Forest Products Stock Performance

Shares of Western Forest Products stock traded down C$0.03 during trading hours on Thursday, reaching C$0.51. The company’s stock had a trading volume of 579,231 shares, compared to its average volume of 282,363. The company’s 50 day simple moving average is C$0.58 and its 200 day simple moving average is C$0.65. The company has a debt-to-equity ratio of 18.42, a quick ratio of 0.73 and a current ratio of 2.77. Western Forest Products has a one year low of C$0.51 and a one year high of C$1.14. The stock has a market cap of C$161.54 million, a P/E ratio of -2.32, a price-to-earnings-growth ratio of 0.32 and a beta of 1.92.

Western Forest Products (TSE:WEF) last issued its quarterly earnings data on Tuesday, February 13th. The company reported C($0.04) earnings per share for the quarter, beating the consensus estimate of C($0.05) by C$0.01. The firm had revenue of C$246.60 million for the quarter. Western Forest Products had a negative net margin of 6.73% and a negative return on equity of 11.50%. As a group, analysts expect that Western Forest Products will post 0.004992 EPS for the current fiscal year.

Insider Buying and Selling at Western Forest Products

In related news, Senior Officer Joseph Steven Hofer bought 100,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of C$0.63 per share, with a total value of C$63,000.00. 0.67% of the stock is owned by corporate insiders.

About Western Forest Products

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.