Western Forest Products (TSE:WEF) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Shares of Western Forest Products Inc. (TSE:WEF) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$11.99 and traded as low as C$10.55. Western Forest Products shares last traded at C$10.69, with a volume of 6,352 shares.

Western Forest Products Stock Up 0.2%

The firm’s 50-day moving average price is C$11.29 and its two-hundred day moving average price is C$11.99. The company has a debt-to-equity ratio of 19.61, a quick ratio of 0.73 and a current ratio of 3.04. The firm has a market cap of C$112.87 million, a PE ratio of -1.73, a P/E/G ratio of 0.32 and a beta of 0.80.

Western Forest Products (TSE:WEF) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C($5.71) EPS for the quarter. Western Forest Products had a negative return on equity of 7.69% and a negative net margin of 4.21%.The company had revenue of C$233.00 million for the quarter. As a group, equities research analysts expect that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.

Insider Transactions at Western Forest Products

In other news, Director Elizabeth Kernaghan purchased 2,600 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were purchased at an average price of C$11.55 per share, for a total transaction of C$30,030.00. Following the purchase, the director directly owned 1,791,200 shares of the company’s stock, valued at C$20,688,360. This represents a 0.15% increase in their position. Also, insider Kernwood Limited purchased 2,600 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were purchased at an average cost of C$11.55 per share, for a total transaction of C$30,030.00. Following the transaction, the insider owned 1,791,200 shares of the company’s stock, valued at C$20,688,360. This trade represents a 0.15% increase in their ownership of the stock. Insiders have bought 84,400 shares of company stock worth $985,196 in the last quarter. Insiders own 0.67% of the company’s stock.

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.