Western Forest Products (TSE:WEF) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Western Forest Products Inc. (TSE:WEF) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$13.18 and traded as high as C$13.87. Western Forest Products shares last traded at C$13.86, with a volume of 28,698 shares.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WEF shares. TD Securities raised their price objective on shares of Western Forest Products from C$14.00 to C$16.00 and gave the stock a “hold” rating in a report on Thursday, February 12th. TD raised their price objective on shares of Western Forest Products from C$16.00 to C$17.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. Royal Bank Of Canada raised their price objective on shares of Western Forest Products from C$13.00 to C$14.00 and gave the stock a “sector perform” rating in a report on Thursday, April 16th. Raymond James Financial raised their price objective on shares of Western Forest Products from C$12.00 to C$13.50 and gave the stock a “market perform” rating in a report on Friday, February 20th. Finally, 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. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently 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 15.10, a current ratio of 2.63 and a quick ratio of 0.73. The company’s 50 day moving average price is C$14.18 and its 200 day moving average price is C$13.21. The firm has a market capitalization of C$150.56 million, a P/E ratio of -1.33, a PEG ratio of 0.32 and a beta of 0.24.

Western Forest Products (TSE:WEF) last released its quarterly earnings results on Wednesday, May 6th. The company reported C($1.83) EPS for the quarter. Western Forest Products had a negative net margin of 12.23% and a negative return on equity of 22.88%. The company had revenue of C$201.50 million for the quarter. As a group, sell-side analysts anticipate that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal 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.