Scotiabank Issues Positive Forecast for Western Forest Products (TSE:WEF) Stock Price

Western Forest Products (TSE:WEF) had its price objective increased by investment analysts at Scotiabank from C$12.50 to C$18.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 15.83% from the company’s previous close.

Western Forest Products Trading Up 5.6%

Shares of TSE:WEF traded up C$0.82 during trading on Monday, hitting C$15.54. 81,171 shares of the company’s stock were exchanged, compared to its average volume of 42,296. Western Forest Products has a 1-year low of C$10.16 and a 1-year high of C$15.57. The firm has a market cap of C$164.07 million, a P/E ratio of -2.52, a PEG ratio of 0.32 and a beta of 1.04. 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 50-day moving average price of C$11.57 and a two-hundred day moving average price of C$12.06.

Western Forest Products (TSE:WEF) last released its earnings results on Wednesday, November 5th. The company reported C($5.71) earnings per share for the quarter. The company had revenue of C$233.00 million during the quarter. Western Forest Products had a negative net margin of 4.21% and a negative return on equity of 7.69%. Equities analysts predict that Western Forest Products will post 0.004992 earnings per share for the current year.

Insider Buying and Selling at Western Forest Products

In other Western Forest Products news, Director Elizabeth Kernaghan bought 2,600 shares of Western Forest Products stock in a transaction on Thursday, November 6th. The shares were purchased at an average cost of C$11.55 per share, for a total transaction of C$30,030.00. Following the completion of the acquisition, the director owned 1,791,200 shares in the company, valued at approximately C$20,688,360. The trade was a 0.15% increase in their position. Also, insider Kernwood Limited bought 2,600 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was acquired at an average cost of C$11.55 per share, with a total value of C$30,030.00. Following the completion of the purchase, the insider owned 1,791,200 shares of the company’s stock, valued at approximately C$20,688,360. This trade represents a 0.15% increase in their position. Insiders have purchased a total of 73,200 shares of company stock worth $849,536 in the last ninety days. 0.67% of the stock is currently 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.