Western Forest Products (TSE:WEF) Shares Pass Above 200 Day Moving Average – What’s Next?

Western Forest Products Inc. (TSE:WEF)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$12.50 and traded as high as C$14.48. Western Forest Products shares last traded at C$14.04, with a volume of 34,150 shares traded.

Analysts Set New Price Targets

Several research analysts recently commented on WEF shares. Scotiabank raised their price objective on shares of Western Forest Products from C$12.50 to C$18.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. TD Securities increased their target price on Western Forest Products from C$14.00 to C$16.00 and gave the stock a “hold” rating in a research report on Thursday, February 12th. Finally, Raymond James Financial lifted their price target on Western Forest Products from C$12.00 to C$13.50 and gave the company a “market perform” rating in a research report on Friday, February 20th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Western Forest Products has a consensus rating of “Hold” and an average price target of C$15.63.

Western Forest Products Stock Down 0.8%

The company has a current ratio of 3.04, a quick ratio of 0.73 and a debt-to-equity ratio of 19.61. The firm has a market cap of C$148.23 million, a P/E ratio of -1.86, a price-to-earnings-growth ratio of 0.32 and a beta of 1.02. The stock’s fifty day moving average is C$13.55 and its two-hundred day moving average is C$12.50.

Western Forest Products (TSE:WEF) last released its quarterly earnings results on Tuesday, February 10th. The company reported C($1.55) earnings per share for the quarter. Western Forest Products had a negative return on equity of 7.69% and a negative net margin of 4.21%.The firm had revenue of C$201.90 million during the quarter. As a group, research analysts anticipate that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.

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.