Western Forest Products (TSE:WEF) Given New C$0.65 Price Target at TD Securities

Western Forest Products (TSE:WEF) had its price objective reduced by TD Securities from C$0.75 to C$0.65 in a research note released on Tuesday morning, BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

Several other research analysts also recently weighed in on the company. Scotiabank set a C$0.80 target price on Western Forest Products and gave the stock a sector perform rating in a research note on Monday, January 22nd. CIBC dropped their target price on Western Forest Products from C$0.75 to C$0.65 and set a neutral rating on the stock in a research note on Thursday, February 15th. Finally, Royal Bank of Canada dropped their target price on Western Forest Products from C$1.00 to C$0.80 and set a sector perform rating on the stock in a research note on Tuesday, December 19th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of C$0.73.

Western Forest Products Stock Performance

Shares of TSE:WEF opened at C$0.56 on Tuesday. Western Forest Products has a 12-month low of C$0.55 and a 12-month high of C$1.14. The business’s fifty day simple moving average is C$0.61 and its 200-day simple moving average is C$0.68. The company has a market capitalization of C$177.38 million, a PE ratio of -2.55, a P/E/G ratio of 0.32 and a beta of 1.93. The company has a current ratio of 2.77, a quick ratio of 0.73 and a debt-to-equity ratio of 18.42.

Western Forest Products (TSE:WEF) last announced its quarterly earnings results on Tuesday, February 13th. The company reported C($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.01. Western Forest Products had a negative return on equity of 11.50% and a negative net margin of 6.73%. The business had revenue of C$246.60 million for the quarter. As a group, equities research analysts predict that Western Forest Products will post 0.004992 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Joseph Steven Hofer purchased 100,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of C$0.63 per share, with a total value of C$63,000.00. 0.51% of the stock is currently owned by insiders.

Western Forest Products Company Profile

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.