Western Forest Products (TSE:WEF) Given New C$0.65 Price Target at TD Securities

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

A number of other analysts have also recently issued reports on WEF. Scotiabank set a C$0.80 target price on Western Forest Products and gave the stock a sector perform rating in a report on Monday, January 22nd. Royal Bank of Canada decreased their target price on 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. Finally, CIBC decreased their target price on 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. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average 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 stock’s 50-day moving average price is C$0.61 and its two-hundred day moving average price is C$0.68. The company has a current ratio of 2.77, a quick ratio of 0.73 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 firm has a market cap of C$177.38 million, a price-to-earnings ratio of -2.55, a PEG ratio of 0.32 and a beta of 1.93.

Western Forest Products (TSE:WEF) last issued its quarterly earnings results on Tuesday, February 13th. The company reported C($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.05) by C$0.01. Western Forest Products had a negative return on equity of 11.50% and a negative net margin of 6.73%. The firm had revenue of C$246.60 million for the quarter. On average, research analysts forecast that Western Forest Products will post 0.004992 EPS for the current 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 dated Wednesday, March 6th. The stock was acquired at an average cost of C$0.63 per share, with a total value of C$63,000.00. Company insiders own 0.51% of the company’s stock.

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.