Western Forest Products (TSE:WEF) Reaches New 52-Week High – Here’s Why

Western Forest Products Inc. (TSE:WEF)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$16.89 and last traded at C$16.89, with a volume of 38886 shares. The stock had previously closed at C$16.85.

Analysts Set New Price Targets

Several brokerages have issued reports on WEF. Raymond James Financial increased their price objective on shares of Western Forest Products from C$12.00 to C$13.50 and gave the company a “market perform” rating in a research report on Friday, February 20th. Royal Bank Of Canada raised their price target on shares of Western Forest Products from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a report on Thursday, April 16th. TD Securities raised their target price on Western Forest Products from C$14.00 to C$16.00 and gave the company a “hold” rating in a research note on Thursday, February 12th. Finally, TD boosted their price target on Western Forest Products from C$16.00 to C$17.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$15.70.

Western Forest Products Stock Up 1.7%

The stock has a market capitalization of C$180.96 million, a P/E ratio of -1.60, a P/E/G ratio of 0.32 and a beta of 0.24. The company has a current ratio of 2.63, a quick ratio of 0.73 and a debt-to-equity ratio of 15.10. The stock’s 50 day simple moving average is C$14.65 and its 200 day simple moving average is C$13.46.

Western Forest Products (TSE:WEF) last released its earnings results on Wednesday, May 6th. The company reported C($1.83) earnings per share for the quarter. The company had revenue of C$201.50 million during the quarter. Western Forest Products had a negative return on equity of 22.88% and a negative net margin of 12.23%. As a group, research analysts predict that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.

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.