Western Forest Products (TSE:WEF) Sets New 52-Week Low – Here’s Why

Western Forest Products Inc. (TSE:WEF) shares reached a new 52-week low on Monday . The stock traded as low as C$10.89 and last traded at C$10.82, with a volume of 33704 shares traded. The stock had previously closed at C$11.12.

Analyst Ratings Changes

Several research analysts have recently weighed in on WEF shares. Raymond James Financial lifted their price target on shares of Western Forest Products to C$10.00 in a research note on Friday, August 8th. Scotiabank raised their target price on Western Forest Products to C$15.00 in a report on Friday, August 1st. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$13.38.

Western Forest Products Trading Down 2.9%

The stock has a market capitalization of C$114.03 million, a PE ratio of -1.75, a PEG ratio of 0.32 and a beta of 0.71. The stock’s 50 day moving average price is C$12.18 and its 200-day moving average price is C$12.24. The company has a quick ratio of 0.73, a current ratio of 3.04 and a debt-to-equity ratio of 19.61.

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

Insider Activity

In other Western Forest Products news, Director Elizabeth Kernaghan purchased 20,200 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average cost of C$12.23 per share, with a total value of C$247,046.00. Following the acquisition, the director owned 1,609,800 shares in the company, valued at approximately C$19,687,854. This trade represents a 1.27% increase in their ownership of the stock. Also, insider Kernwood Limited purchased 20,200 shares of the company’s stock in a transaction on Monday, September 8th. The stock was acquired at an average price of C$12.23 per share, with a total value of C$247,046.00. Following the completion of the purchase, the insider directly owned 1,609,800 shares in the company, valued at C$19,687,854. This trade represents a 1.27% increase in their ownership of the stock. Insiders bought 231,600 shares of company stock worth $2,781,996 over the last 90 days. Company insiders own 0.67% of the company’s stock.

Western Forest Products Company Profile

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.