Western Forest Products Inc (WEF) PT Raised to C$3.00
Western Forest Products Inc (TSE:WEF) had its target price increased by TD Securities from C$2.75 to C$3.00 in a research report sent to investors on Friday morning. They currently have a buy rating on the stock.
Several other brokerages also recently commented on WEF. CIBC increased their target price on Western Forest Products from C$2.25 to C$2.50 in a research note on Wednesday, May 10th. Raymond James Financial, Inc. increased their target price on Western Forest Products from C$2.75 to C$3.10 and gave the company a strong-buy rating in a research note on Thursday. Scotiabank reiterated an outperform rating and set a C$2.45 target price on shares of Western Forest Products in a research note on Thursday, May 4th. Finally, Royal Bank Of Canada downgraded Western Forest Products from an outperform rating to a sector perform rating and set a C$2.25 target price on the stock. in a research note on Wednesday, April 19th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of C$2.73.
Shares of Western Forest Products (WEF) opened at 2.59 on Friday. The firm has a 50 day moving average price of $2.38 and a 200 day moving average price of $2.17. Western Forest Products has a 52 week low of $1.79 and a 52 week high of $2.60. The company has a market capitalization of $1.02 billion and a price-to-earnings ratio of 11.02.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.09%.
In other news, insider Stephen D.A. Williams purchased 18,100 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were purchased at an average cost of C$2.19 per share, for a total transaction of C$39,639.00. Also, Director Daniel Louis Nocente purchased 39,000 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was purchased at an average price of C$2.23 per share, for a total transaction of C$86,970.00. Over the last 90 days, insiders bought 193,100 shares of company stock worth $421,079.
Western Forest Products Company Profile
Western Forest Products Inc is a softwood forest products company, operating in the coastal region of British Columbia. The Company’s primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and lumber remanufacturing. The Company’s log and lumber products are sold throughout the world.
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