CanWel Building Materials Group (CWX) Sets New 52-Week Low on Analyst Downgrade
CanWel Building Materials Group Ltd (TSE:CWX) hit a new 52-week low on Monday after National Bank Financial lowered their price target on the stock from C$8.50 to C$7.50. National Bank Financial currently has an outperform rating on the stock. CanWel Building Materials Group traded as low as C$5.97 and last traded at C$6.00, with a volume of 146214 shares trading hands. The stock had previously closed at C$6.00.
CWX has been the subject of a number of other research reports. Canaccord Genuity reduced their price objective on CanWel Building Materials Group from C$7.75 to C$7.50 in a research note on Thursday, August 2nd. Raymond James reduced their price objective on CanWel Building Materials Group from C$8.00 to C$7.00 and set an “outperform” rating for the company in a research note on Wednesday, September 12th. Finally, CIBC boosted their target price on CanWel Building Materials Group from C$6.50 to C$7.00 in a report on Thursday, July 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of C$7.30.
In other CanWel Building Materials Group news, Director Amar Doman acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were purchased at an average price of C$6.31 per share, with a total value of C$31,550.00. Also, insider James Salter Code acquired 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average cost of C$6.37 per share, for a total transaction of C$38,220.00. In the last three months, insiders bought 29,875 shares of company stock worth $183,966.
CanWel Building Materials Group Company Profile (TSE:CWX)
CanWel Building Materials Group Ltd., through its subsidiaries, distributes building materials and home renovation products in Canada, Hawaii, and the Western United States. It operates through two segments, Building Materials Distribution and Forestry. The company sells adhesives; decking and railing; engineered wood products; fasteners; foundation; insulation; interior finishing; building envelope; lumber, plywood, OSB, and specialty industrial products; roofing and accessories; treated wood; exterior trim and décor products; welded panels; profiles and colors; fusion stones; exterior products; sidings, panels, shingles, and trims; and security and door ware products.
Recommended Story: What are Closed-End Mutual Funds?
Receive News & Ratings for CanWel Building Materials Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CanWel Building Materials Group and related companies with MarketBeat.com's FREE daily email newsletter.