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

Western Forest Products (TSE:WEF) had its target price raised by equities researchers at Raymond James Financial from C$12.50 to C$20.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James Financial’s price objective would suggest a potential upside of 15.27% from the stock’s current price.

Several other research firms have also issued reports on WEF. Royal Bank Of Canada upped their target price on shares of Western Forest Products from C$13.00 to C$14.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 16th. TD increased their price objective on shares of Western Forest Products from C$17.00 to C$19.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$17.40.

Western Forest Products Stock Up 0.2%

Shares of WEF traded up C$0.04 during trading hours on Monday, reaching C$17.35. The stock had a trading volume of 20,908 shares, compared to its average volume of 41,583. The company has a market capitalization of C$183.18 million, a price-to-earnings ratio of -1.62, a P/E/G ratio of 0.32 and a beta of 0.22. The firm has a 50-day simple moving average of C$16.95 and a 200 day simple moving average of C$15.19. The company has a current ratio of 2.63, a quick ratio of 0.73 and a debt-to-equity ratio of 15.10. Western Forest Products has a 12 month low of C$10.16 and a 12 month high of C$19.40.

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

Insider Transactions at Western Forest Products

In other news, insider Kernwood Limited sold 1,800 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider owned 1,889,000 shares in the company, valued at C$35,985,450. This trade represents 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 shares were sold at an average price of C$19.05, for a total value of C$34,290.00. Following the completion of 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. Insiders have sold 14,200 shares of company stock valued at $270,980 in the last 90 days. 0.67% of the stock is currently owned by corporate insiders.

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.