Western Forest Products (TSE:WEF) Hits New 12-Month High – Still a Buy?

Western Forest Products Inc. (TSE:WEF) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$16.89 and last traded at C$16.89, with a volume of 38886 shares. The stock had previously closed at C$16.85.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WEF shares. TD Securities lifted their target price on Western Forest Products from C$14.00 to C$16.00 and gave the company a “hold” rating in a research note on Thursday, February 12th. TD increased their target price on Western Forest Products from C$16.00 to C$17.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. Raymond James Financial lifted their price target on Western Forest Products from C$12.00 to C$13.50 and gave the company a “market perform” rating in a research note on Friday, February 20th. Finally, Royal Bank Of Canada raised their target price on Western Forest Products from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a report on Thursday, April 16th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$15.70.

Western Forest Products Price Performance

The company has a debt-to-equity ratio of 15.10, a quick ratio of 0.73 and a current ratio of 2.63. The company has a market capitalization of C$180.96 million, a price-to-earnings ratio of -1.60, a P/E/G ratio of 0.32 and a beta of 0.24. The company has a fifty day simple moving average of C$14.65 and a two-hundred day simple moving average of C$13.46.

Western Forest Products (TSE:WEF) last released its earnings results on Wednesday, May 6th. The company reported C($1.83) earnings per share (EPS) for the quarter. Western Forest Products had a negative net margin of 12.23% and a negative return on equity of 22.88%. The company had revenue of C$201.50 million during the quarter. As a group, research analysts anticipate that Western Forest Products Inc. will post 0.004992 earnings per share for the current 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.