Western Forest Products (TSE:WEF) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Western Forest Products Inc. (TSE:WEF) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$13.06 and traded as high as C$14.47. Western Forest Products shares last traded at C$14.45, with a volume of 44,435 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WEF shares. Scotiabank raised their target price on Western Forest Products from C$12.50 to C$18.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. TD raised their target price on Western Forest Products from C$16.00 to C$17.00 and gave the company a “hold” rating in a report on Thursday, April 16th. TD Securities raised their target price on Western Forest Products from C$14.00 to C$16.00 and gave the company a “hold” rating in a report on Thursday, February 12th. Raymond James Financial raised their target price on Western Forest Products from C$12.00 to C$13.50 and gave the company a “market perform” rating in a report on Friday, February 20th. Finally, Royal Bank Of Canada raised their target price on Western Forest Products from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a report on Thursday, April 16th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$15.70.

Western Forest Products Price Performance

The company has a debt-to-equity ratio of 12.40, a quick ratio of 0.73 and a current ratio of 2.85. The firm has a market cap of C$152.56 million, a P/E ratio of -1.91, a P/E/G ratio of 0.32 and a beta of 0.24. The company has a 50-day moving average of C$14.20 and a 200 day moving average of C$13.06.

Western Forest Products (TSE:WEF) last posted its earnings results on Wednesday, May 6th. The company reported C($1.83) EPS for the quarter. The company had revenue of C$201.50 million for the quarter. Western Forest Products had a negative return on equity of 15.26% and a negative net margin of 8.09%. On average, sell-side analysts anticipate that Western Forest Products Inc. will post 0.004992 EPS 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.