Western Forest Products (TSE:WEF) Reaches New 52-Week High – What’s Next?

Western Forest Products Inc. (TSE:WEF)’s stock price reached a new 52-week high on Thursday . The company traded as high as C$18.76 and last traded at C$18.70, with a volume of 27521 shares trading hands. The stock had previously closed at C$18.58.

Wall Street Analysts Forecast Growth

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

Western Forest Products Price Performance

The business has a 50-day simple moving average of C$15.21 and a 200 day simple moving average of C$13.93. The firm has a market cap of C$195.96 million, a P/E ratio of -1.73, a price-to-earnings-growth ratio of 0.32 and a beta of 0.27. The company has a debt-to-equity ratio of 15.10, a quick ratio of 0.73 and a current ratio of 2.63.

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

About Western Forest Products

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.