Western Forest Products (TSE:WEF) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Western Forest Products Inc. (TSE:WEF) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$12.50 and traded as high as C$14.48. Western Forest Products shares last traded at C$14.04, with a volume of 34,150 shares trading hands.

Analysts Set New Price Targets

Several research firms have weighed in on WEF. Scotiabank boosted their price target on Western Forest Products from C$12.50 to C$18.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Raymond James Financial boosted 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 report on Friday, February 20th. Finally, TD Securities upped their price target on shares of Western Forest Products from C$14.00 to C$16.00 and gave the stock a “hold” rating in a research report on Thursday, February 12th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Western Forest Products presently has a consensus rating of “Hold” and an average price target of C$15.63.

Western Forest Products Stock Performance

The company has a debt-to-equity ratio of 19.61, a current ratio of 3.04 and a quick ratio of 0.73. The stock has a 50-day moving average price of C$13.55 and a 200-day moving average price of C$12.50. The company has a market capitalization of C$148.23 million, a price-to-earnings ratio of -1.86, a PEG ratio of 0.32 and a beta of 1.02.

Western Forest Products (TSE:WEF) last posted its quarterly earnings results on Tuesday, February 10th. The company reported C($1.55) earnings per share for the quarter. Western Forest Products had a negative net margin of 4.21% and a negative return on equity of 7.69%. The business had revenue of C$201.90 million during the quarter. As a group, analysts forecast that Western Forest Products Inc. will post 0.004992 earnings per share 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.