Western Forest Products (TSE:WEF) Given New C$0.60 Price Target at CIBC

Western Forest Products (TSE:WEF) had its price target lowered by CIBC from C$0.65 to C$0.60 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. CIBC’s price target indicates a potential upside of 17.65% from the company’s previous close.

Several other equities analysts have also commented on the stock. Scotiabank set a C$0.80 target price on shares of Western Forest Products and gave the company a “sector perform” rating in a report on Monday, January 22nd. TD Securities decreased their price target on Western Forest Products from C$0.75 to C$0.65 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$0.71.

Western Forest Products Stock Performance

Shares of WEF stock traded down C$0.03 on Thursday, hitting C$0.51. The company’s stock had a trading volume of 579,231 shares, compared to its average volume of 282,363. Western Forest Products has a fifty-two week low of C$0.51 and a fifty-two week high of C$1.14. The company has a market capitalization of C$161.54 million, a PE ratio of -2.36, a PEG ratio of 0.32 and a beta of 1.92. The stock’s 50 day moving average is C$0.58 and its 200-day moving average is C$0.65. The company has a debt-to-equity ratio of 18.42, a quick ratio of 0.73 and a current ratio of 2.77.

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

Insiders Place Their Bets

In other Western Forest Products news, Senior Officer Joseph Steven Hofer bought 100,000 shares of Western Forest Products stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of C$0.63 per share, with a total value of C$63,000.00. Insiders own 0.67% of the company’s stock.

Western Forest Products Company Profile

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.