Western Forest Products (TSE:WEF) Stock Passes Above 200 Day Moving Average – Time to Sell?

Western Forest Products Inc. (TSE:WEF)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$12.50 and traded as high as C$14.48. Western Forest Products shares last traded at C$14.04, with a volume of 34,150 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WEF shares. Scotiabank raised 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 report on Monday, January 26th. TD Securities increased their price target on shares of Western Forest Products from C$14.00 to C$16.00 and gave the company a “hold” rating in a research report on Thursday, February 12th. Finally, Raymond James Financial lifted their price objective on shares of Western Forest Products from C$12.00 to C$13.50 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$15.63.

Western Forest Products Stock Down 0.8%

The firm has a market capitalization of C$148.23 million, a P/E ratio of -1.86, a PEG ratio of 0.32 and a beta of 1.02. The company has a debt-to-equity ratio of 19.61, a quick ratio of 0.73 and a current ratio of 3.04. The firm’s 50-day moving average is C$13.55 and its 200 day moving average is C$12.50.

Western Forest Products (TSE:WEF) last issued its quarterly earnings results on Tuesday, February 10th. The company reported C($1.55) EPS for the quarter. Western Forest Products had a negative net margin of 4.21% and a negative return on equity of 7.69%. The firm had revenue of C$201.90 million during the quarter. As a group, equities research analysts predict that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.

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.