Western Forest Products (TSE:WEF) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Western Forest Products Inc. (TSE:WEF)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$16.04 and traded as high as C$16.37. Western Forest Products shares last traded at C$16.37, with a volume of 33,899 shares changing hands.

Analysts Set New Price Targets

Several analysts have issued reports on WEF shares. Royal Bank Of Canada raised their price target on shares of Western Forest Products from C$16.00 to C$18.00 and gave the stock a “sector perform” rating in a research report on Friday, August 14th. TD cut their price objective on shares of Western Forest Products from C$20.00 to C$17.00 and set a “hold” rating for the company in a research report on Wednesday, October 14th. Finally, Raymond James Financial increased their target price on shares of Western Forest Products from C$12.50 to C$20.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Five analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Western Forest Products currently has a consensus rating of “Hold” and an average price target of C$17.80.

Western Forest Products Stock Down 1.7%

The company has a current ratio of 2.44, a quick ratio of 0.73 and a debt-to-equity ratio of 12.63. The business’s fifty day moving average price is C$16.58 and its 200 day moving average price is C$16.06. The company has a market capitalization of C$162.38 million, a P/E ratio of -1.92, a P/E/G ratio of 0.32 and a beta of -0.32.

Western Forest Products (TSE:WEF) last posted its earnings results on Thursday, November 5th. The company reported C($0.44) earnings per share for the quarter. The business had revenue of C$237.00 million during the quarter. Western Forest Products had a negative net margin of 9.64% and a negative return on equity of 17.78%. As a group, equities research analysts predict that Western Forest Products Inc. will post 0.00 earnings per share for the current fiscal year.

Western Forest Products Company Profile

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity of 785 million board feet from five sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing facilities.