TD Securities Cuts Western Forest Products (TSE:WEF) Price Target to C$0.65

Western Forest Products (TSE:WEF) had its price target lowered by TD Securities from C$0.75 to C$0.65 in a research note published on Tuesday morning, BayStreet.CA reports. The firm currently has a hold rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. CIBC decreased their price objective on shares of Western Forest Products from C$0.75 to C$0.65 and set a neutral rating for the company in a report on Thursday, February 15th. Scotiabank set a C$0.80 price objective on shares of Western Forest Products and gave the stock a sector perform rating in a report on Monday, January 22nd. Finally, Royal Bank of Canada decreased their price objective on shares of Western Forest Products from C$1.00 to C$0.80 and set a sector perform rating for the company in a report on Tuesday, December 19th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Western Forest Products presently has a consensus rating of Hold and a consensus target price of C$0.73.

Western Forest Products Price Performance

Shares of TSE:WEF opened at C$0.56 on Tuesday. The company’s fifty day moving average is C$0.61 and its two-hundred day moving average is C$0.68. The company has a quick ratio of 0.73, a current ratio of 2.77 and a debt-to-equity ratio of 18.42. Western Forest Products has a 12-month low of C$0.55 and a 12-month high of C$1.14. The company has a market cap of C$177.38 million, a P/E ratio of -2.55, a price-to-earnings-growth ratio of 0.32 and a beta of 1.93.

Western Forest Products (TSE:WEF) last announced its earnings results on Tuesday, February 13th. The company reported C($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.05) by C$0.01. Western Forest Products had a negative net margin of 6.73% and a negative return on equity of 11.50%. The company had revenue of C$246.60 million for the quarter. Equities analysts expect that Western Forest Products will post 0.004992 earnings per share for the current fiscal year.

Insider Activity at Western Forest Products

In related news, Senior Officer Joseph Steven Hofer bought 100,000 shares of Western Forest Products stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of C$0.63 per share, for a total transaction of C$63,000.00. 0.51% of the stock is owned by corporate insiders.

About Western Forest Products

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.