Western Forest Products (TSE:WEF) Price Target Raised to C$18.00 at Royal Bank Of Canada

Western Forest Products (TSE:WEF) had its price objective hoisted by Royal Bank Of Canada from C$16.00 to C$18.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. TD boosted their target price on Western Forest Products from C$17.00 to C$19.00 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Raymond James Financial raised their price objective on shares of Western Forest Products from C$12.50 to C$20.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Western Forest Products has a consensus rating of “Hold” and a consensus target price of C$18.40.

Western Forest Products Price Performance

TSE:WEF opened at C$18.75 on Friday. Western Forest Products has a one year low of C$10.16 and a one year high of C$19.40. The stock has a market cap of C$197.96 million, a PE ratio of -1.75, a P/E/G ratio of 0.32 and a beta of 0.23. The company has a debt-to-equity ratio of 12.63, a quick ratio of 0.73 and a current ratio of 2.44. The stock has a 50 day moving average price of C$17.88 and a 200 day moving average price of C$15.73.

Western Forest Products (TSE:WEF) last posted its earnings results on Wednesday, August 12th. The company reported C$1.10 EPS for the quarter. Western Forest Products had a negative return on equity of 17.78% and a negative net margin of 9.64%.The company had revenue of C$239.60 million for the quarter. Equities research analysts expect that Western Forest Products will post 0.004992 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Elizabeth Kernaghan sold 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of C$19.05, for a total value of C$34,290.00. Following the completion of the transaction, the director owned 1,889,000 shares of the company’s stock, valued at C$35,985,450. The trade was a 0.10% decrease in their ownership of the stock. Also, insider Kernwood Limited sold 1,800 shares of the business’s stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of C$19.05, for a total value of C$34,290.00. Following the completion of the transaction, the insider owned 1,889,000 shares of the company’s stock, valued at C$35,985,450. This trade represents a 0.10% decrease in their ownership of the stock. Over the last quarter, insiders have sold 14,200 shares of company stock worth $270,980. 0.67% of the stock is owned by company insiders.

Western Forest Products Company Profile

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.