Western Forest Products (TSE:WEF) had its target price trimmed by Raymond James from C$2.20 to C$2.10 in a research note released on Friday, BayStreet.CA reports. The brokerage currently has a market perform rating on the stock.
WEF has been the subject of a number of other reports. Scotiabank reaffirmed an average rating and issued a C$2.25 price target on shares of Western Forest Products in a report on Monday, May 6th. TD Securities downgraded Western Forest Products from a buy rating to a hold rating and lowered their price target for the company from C$2.25 to C$2.00 in a report on Wednesday, April 17th. CIBC lowered their price target on Western Forest Products from C$2.00 to C$1.75 in a report on Friday, June 7th. Finally, Royal Bank of Canada lowered their price target on Western Forest Products from C$2.25 to C$2.00 in a report on Tuesday, July 9th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and an average target price of C$2.02.
Shares of WEF opened at C$1.36 on Friday. The company has a 50 day simple moving average of C$1.53. The company has a debt-to-equity ratio of 17.98, a current ratio of 2.36 and a quick ratio of 0.75. The firm has a market capitalization of $517.05 million and a P/E ratio of 10.71. Western Forest Products has a 52-week low of C$1.35 and a 52-week high of C$2.43.
In other news, Senior Officer Shannon Janzen acquired 15,200 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was acquired at an average cost of C$1.66 per share, with a total value of C$25,232.00. Following the completion of the acquisition, the insider now owns 58,200 shares of the company’s stock, valued at C$96,612.
About Western Forest Products
Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers various products for outdoor living space, such as structures, decking, landscaping, and fencing; home components, including appearance, Japanese housing, and framing, as well as siding, paneling, trim, and soffits; and furniture, moldings, and decorative purpose, as well as doors, windows, and stair components.
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