Royal Bank Of Canada Issues Positive Forecast for Western Forest Products (TSE:WEF) Stock Price

Western Forest Products (TSE:WEF) had its price target raised by equities researchers at Royal Bank Of Canada from C$13.00 to C$14.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential downside of 1.69% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. TD upped their target price on shares of Western Forest Products from C$16.00 to C$17.00 and gave the stock a “hold” rating in a research note on Thursday. Scotiabank upped 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. Raymond James Financial upped their target price on shares of Western Forest Products from C$12.00 to C$13.50 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Finally, TD Securities upped their target price on shares of Western Forest Products from C$14.00 to C$16.00 and gave the stock a “hold” rating in a research note on Thursday, February 12th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$15.70.

Western Forest Products Stock Down 1.5%

Shares of TSE WEF traded down C$0.21 during midday trading on Thursday, hitting C$14.24. The stock had a trading volume of 16,470 shares, compared to its average volume of 42,806. The business’s 50 day moving average is C$14.23 and its 200-day moving average is C$12.82. The company has a market cap of C$150.35 million, a P/E ratio of -1.88, a PEG ratio of 0.32 and a beta of 0.16. Western Forest Products has a 52 week low of C$10.16 and a 52 week high of C$17.28. The company has a quick ratio of 0.73, a current ratio of 2.85 and a debt-to-equity ratio of 12.40.

Western Forest Products (TSE:WEF) last issued its earnings results on Tuesday, February 10th. The company reported C($1.55) earnings per share (EPS) for the quarter. The firm had revenue of C$201.90 million during the quarter. Western Forest Products had a negative return on equity of 15.26% and a negative net margin of 8.09%. As a group, analysts predict that Western Forest Products will post 0.004992 EPS for the current 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.