Raymond James Financial Issues Positive Forecast for Western Forest Products (TSE:WEF) Stock Price

Western Forest Products (TSE:WEF) had its price target hoisted by investment analysts at Raymond James Financial from C$10.00 to C$12.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James Financial’s price objective indicates a potential downside of 29.54% from the company’s current price.

Separately, Scotiabank boosted their target price on Western Forest Products from C$12.50 to C$18.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$14.63.

Western Forest Products Price Performance

WEF stock traded up C$0.26 during mid-day trading on Wednesday, reaching C$17.03. 60,297 shares of the company’s stock were exchanged, compared to its average volume of 45,642. The company has a market cap of C$179.80 million, a price-to-earnings ratio of -2.76, a price-to-earnings-growth ratio of 0.32 and a beta of 1.02. The stock’s 50 day moving average is C$12.27 and its 200 day moving average is C$12.23. The company has a debt-to-equity ratio of 19.61, a current ratio of 3.04 and a quick ratio of 0.73. Western Forest Products has a 12-month low of C$10.16 and a 12-month high of C$17.28.

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

Insider Activity

In other Western Forest Products news, insider Kernwood Limited acquired 2,600 shares of Western Forest Products stock in a transaction dated Thursday, November 6th. The stock was acquired at an average cost of C$11.55 per share, for a total transaction of C$30,030.00. Following the completion of the transaction, the insider owned 1,791,200 shares in the company, valued at approximately C$20,688,360. This represents a 0.15% increase in their position. Also, Director Elizabeth Kernaghan acquired 2,600 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average price of C$11.55 per share, for a total transaction of C$30,030.00. Following the purchase, the director directly owned 1,791,200 shares of the company’s stock, valued at approximately C$20,688,360. This trade represents a 0.15% increase in their ownership of the stock. In the last quarter, insiders have purchased 8,800 shares of company stock worth $99,760. 0.67% of the stock is owned by company insiders.

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. The firm purchases and harvests logs which are then manufactured into lumber products at its sawmills, or sold. Canada and the United States, represent the company’s largest markets and contribute the vast majority of its total revenue.