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

Western Forest Products (TSE:WEF) had its price objective lifted by analysts at TD from C$19.00 to C$20.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD’s price target indicates a potential upside of 6.33% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Raymond James Financial boosted their price target on shares of Western Forest Products from C$12.50 to C$20.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Royal Bank Of Canada lifted their price objective on shares of Western Forest Products from C$16.00 to C$18.00 and gave the company a “sector perform” rating in a research report on Friday. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$18.40.

Western Forest Products Stock Performance

Shares of TSE WEF traded up C$0.07 during mid-day trading on Friday, hitting C$18.81. The company had a trading volume of 34,655 shares, compared to its average volume of 41,188. The stock has a market cap of C$198.60 million, a price-to-earnings ratio of -1.75, a PEG ratio of 0.32 and a beta of 0.23. Western Forest Products has a 12 month low of C$10.16 and a 12 month high of C$19.40. The company has a debt-to-equity ratio of 15.10, a current ratio of 2.63 and a quick ratio of 0.73. The firm’s 50 day simple moving average is C$17.83 and its two-hundred day simple moving average is C$15.70.

Western Forest Products (TSE:WEF) last issued its quarterly earnings data on Wednesday, August 12th. The company reported C$1.10 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$239.60 million during the quarter. As a group, equities research analysts forecast that Western Forest Products will post 0.004992 earnings per share for the current year.

Insider Activity

In other Western Forest Products news, insider Kernwood Limited 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 sale, the insider directly 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, Director Elizabeth Kernaghan sold 1,800 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 1,889,000 shares of the company’s stock, valued at approximately C$35,985,450. This represents a 0.10% decrease in their ownership of the stock. Insiders sold 14,200 shares of company stock valued at $270,980 in the last ninety days. Corporate 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.