Western Forest Products (TSE:WEF) Price Target Raised to C$20.00

Western Forest Products (TSE:WEF) had its price target hoisted by Raymond James Financial from C$12.50 to C$20.00 in a research report report published on Monday morning,BayStreet.CA reports. Raymond James Financial currently has a market perform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Royal Bank Of Canada upped 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 research report on Thursday, April 16th. TD lifted their price target on shares of Western Forest Products from C$17.00 to C$19.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$17.40.

Western Forest Products Stock Performance

WEF opened at C$17.77 on Monday. The company has a market cap of C$187.62 million, a PE ratio of -1.66, a price-to-earnings-growth ratio of 0.32 and a beta of 0.22. The stock has a 50-day moving average of C$17.19 and a 200-day moving average of C$15.32. Western Forest Products has a 52-week low of C$10.16 and a 52-week high of C$19.40. The company has a debt-to-equity ratio of 15.10, a quick ratio of 0.73 and a current ratio of 2.63.

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

Insiders Place Their Bets

In other news, Director Elizabeth Kernaghan sold 1,800 shares of the business’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of C$19.05, for a total transaction of C$34,290.00. Following the transaction, the director owned 1,889,000 shares in the company, valued at approximately C$35,985,450. The trade was a 0.10% decrease in their position. Also, insider Kernwood Limited sold 1,800 shares of the business’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of C$19.05, for a total transaction of C$34,290.00. Following the transaction, the insider owned 1,889,000 shares in the company, valued at approximately C$35,985,450. The trade was a 0.10% decrease in their position. Over the last three months, insiders sold 14,200 shares of company stock valued at $270,980. Insiders own 0.67% of the company’s stock.

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.