Western Forest Products (TSE:WEF) Hits New 12-Month High – What’s Next?

Western Forest Products Inc. (TSE:WEF) shares reached a new 52-week high on Thursday . The company traded as high as C$14.81 and last traded at C$14.74, with a volume of 45587 shares. The stock had previously closed at C$14.19.

Western Forest Products Stock Performance

The firm has a market capitalization of C$153.09 million, a price-to-earnings ratio of -2.35, a price-to-earnings-growth ratio of 0.32 and a beta of 1.04. The firm’s 50-day moving average price is C$11.44 and its two-hundred day moving average price is C$12.02. The company has a debt-to-equity ratio of 19.61, a quick ratio of 0.73 and a current ratio of 3.04.

Western Forest Products (TSE:WEF) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C($5.71) EPS for the quarter. Western Forest Products had a negative return on equity of 7.69% and a negative net margin of 4.21%.The business had revenue of C$233.00 million for the quarter. Sell-side analysts predict that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Kernwood Limited bought 9,600 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average price of C$11.70 per share, for a total transaction of C$112,320.00. Following the transaction, the insider directly owned 1,770,900 shares of the company’s stock, valued at C$20,719,530. This trade represents a 0.55% increase in their position. Also, Director Elizabeth Kernaghan purchased 9,600 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average cost of C$11.70 per share, with a total value of C$112,320.00. Following the completion of the acquisition, the director directly owned 1,770,900 shares in the company, valued at C$20,719,530. The trade was a 0.55% increase in their ownership of the stock. Over the last three months, insiders have acquired 71,200 shares of company stock valued at $828,256. Company 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.