Western Forest Products (OTCMKTS:WFSTF) Shares Up 3.7% – What’s Next?

Western Forest Products Inc. (OTCMKTS:WFSTF)’s stock price shot up 3.7% during mid-day trading on Wednesday . The stock traded as high as $10.03 and last traded at $10.03. 2,968 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 7,047 shares. The stock had previously closed at $9.6760.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WFSTF. TD Securities reiterated a “hold” rating on shares of Western Forest Products in a research report on Thursday, February 12th. Raymond James Financial reiterated a “market perform” rating on shares of Western Forest Products in a research report on Thursday, April 23rd. Finally, Scotiabank reiterated a “sector perform” rating on shares of Western Forest Products in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Western Forest Products Price Performance

The business has a 50-day moving average price of $10.33 and a two-hundred day moving average price of $9.60.

Western Forest Products Company Profile

Western Forest Products is a Canadian integrated forest products company headquartered in Vancouver, British Columbia. The company specializes in the harvesting, manufacturing and distribution of lumber and other wood products, operating a network of sawmills, remanufacturing facilities and log sort yards on both the British Columbia coast and Vancouver Island. Western Forest manages a diversified fibre portfolio that supports core lumber production as well as specialty lines.

The company’s product suite includes dimensional lumber, engineered wood products such as laminated veneer lumber (LVL), and value-added remanufactured items including mouldings and custom profiles.