Western Forest Products (TSE:WEF) Price Target Cut to C$0.60 by Analysts at TD Securities

Western Forest Products (TSE:WEF) had its target price reduced by investment analysts at TD Securities from C$0.65 to C$0.60 in a report released on Thursday, BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ price objective suggests a potential upside of 17.65% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. CIBC lowered their price target on Western Forest Products from C$0.65 to C$0.60 in a research report on Thursday. Scotiabank set a C$0.80 price objective on Western Forest Products and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$0.71.

Western Forest Products Trading Down 5.6 %

WEF traded down C$0.03 during trading on Thursday, hitting C$0.51. The company’s stock had a trading volume of 579,231 shares, compared to its average volume of 282,363. Western Forest Products has a twelve month low of C$0.51 and a twelve month high of C$1.14. The company has a quick ratio of 0.73, a current ratio of 2.77 and a debt-to-equity ratio of 18.42. The stock’s fifty day moving average price is C$0.58 and its 200-day moving average price is C$0.65. The firm has a market capitalization of C$161.54 million, a P/E ratio of -2.32, a PEG ratio of 0.32 and a beta of 1.92.

Western Forest Products (TSE:WEF) last issued its quarterly earnings results on Tuesday, February 13th. The company reported C($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of C$246.60 million for the quarter. Analysts anticipate that Western Forest Products will post 0.004992 EPS for the current year.

Insider Transactions at Western Forest Products

In other news, Senior Officer Joseph Steven Hofer purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of C$0.63 per share, for a total transaction of C$63,000.00. 0.67% of the stock is owned by corporate 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.