TD Securities Forecasts Strong Price Appreciation for Western Forest Products (TSE:WEF) Stock

Western Forest Products (TSE:WEF) had its target price boosted by equities researchers at TD Securities from C$14.00 to C$16.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ target price indicates a potential upside of 9.89% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Raymond James Financial increased their price objective on Western Forest Products from C$10.00 to C$12.00 and gave the company a “market perform” rating in a research report on Wednesday, February 4th. Scotiabank boosted their target price on shares of Western Forest Products from C$12.50 to C$18.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$15.25.

Western Forest Products Trading Down 3.8%

Shares of WEF traded down C$0.58 during mid-day trading on Thursday, reaching C$14.56. The company had a trading volume of 60,937 shares, compared to its average volume of 46,827. The company has a current ratio of 3.04, a quick ratio of 0.73 and a debt-to-equity ratio of 19.61. Western Forest Products has a fifty-two week low of C$10.16 and a fifty-two week high of C$17.28. The stock has a market cap of C$153.72 million, a price-to-earnings ratio of -2.36, a price-to-earnings-growth ratio of 0.32 and a beta of 1.02. The firm has a fifty day simple moving average of C$12.84 and a 200-day simple moving average of C$12.40.

Western Forest Products (TSE:WEF) last announced its quarterly earnings results on Tuesday, February 10th. The company reported C($1.55) earnings per share (EPS) for the quarter. The company had revenue of C$201.90 million during the quarter. Western Forest Products had a negative return on equity of 7.69% and a negative net margin of 4.21%. On average, sell-side analysts anticipate that Western Forest Products will post 0.004992 EPS for the current fiscal year.

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.