Western Forest Products (TSE:WEF) Stock Crosses Above 200 Day Moving Average – What’s Next?

Western Forest Products Inc. (TSE:WEF)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$14.24 and traded as high as C$18.68. Western Forest Products shares last traded at C$18.55, with a volume of 26,322 shares.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WEF. TD increased their price objective on Western Forest Products from C$16.00 to C$17.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Royal Bank Of Canada lifted their target price on Western Forest Products from C$13.00 to C$14.00 and gave the stock a “sector perform” rating in a report on Thursday, April 16th. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$15.70.

Western Forest Products Price Performance

The firm has a market cap of C$195.85 million, a price-to-earnings ratio of -1.73, a P/E/G ratio of 0.32 and a beta of 0.27. The business’s 50-day simple moving average is C$15.74 and its two-hundred day simple moving average is C$14.24. The company has a current ratio of 2.63, a quick ratio of 0.73 and a debt-to-equity ratio of 15.10.

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

Insiders Place Their Bets

In related news, insider Kernwood Limited sold 2,700 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of C$19.00, for a total value of C$51,300.00. Following the transaction, the insider owned 1,900,800 shares in the company, valued at C$36,115,200. The trade was a 0.14% decrease in their ownership of the stock. Insiders have sold a total of 10,600 shares of company stock worth $202,400 over the last ninety days. 0.67% of the stock is owned by company insiders.

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.