Western Forest Products (TSE:WEF) Given New C$18.00 Price Target at Royal Bank Of Canada

Western Forest Products (TSE:WEF) had its target price lifted by investment analysts at Royal Bank Of Canada from C$16.00 to C$18.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential downside of 4.31% from the stock’s previous close.

A number of other analysts have also commented on WEF. TD boosted their price target on shares of Western Forest Products from C$17.00 to C$19.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Raymond James Financial raised their price objective on shares of Western Forest Products from C$12.50 to C$20.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Western Forest Products has an average rating of “Hold” and an average target price of C$18.40.

Western Forest Products Stock Up 0.4%

Western Forest Products stock traded up C$0.07 during mid-day trading on Friday, reaching C$18.81. The stock had a trading volume of 34,655 shares, compared to its average volume of 41,188. The company has a debt-to-equity ratio of 15.10, a quick ratio of 0.73 and a current ratio of 2.63. Western Forest Products has a fifty-two week low of C$10.16 and a fifty-two week high of C$19.40. The stock’s 50-day simple moving average is C$17.83 and its 200-day simple moving average is C$15.70. The firm has a market capitalization of C$198.60 million, a PE ratio of -1.75, a price-to-earnings-growth ratio of 0.32 and a beta of 0.23.

Western Forest Products (TSE:WEF) last released its quarterly earnings data on Wednesday, August 12th. The company reported C$1.10 EPS for the quarter. Western Forest Products had a negative return on equity of 22.88% and a negative net margin of 12.23%.The firm had revenue of C$239.60 million during the quarter. On average, sell-side analysts forecast that Western Forest Products will post 0.004992 EPS for the current fiscal year.

Insider Buying and Selling at Western Forest Products

In other news, Director Elizabeth Kernaghan sold 1,800 shares of the stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of C$19.05, for a total value of C$34,290.00. Following the completion of the sale, the director owned 1,889,000 shares in the company, valued at C$35,985,450. This represents a 0.10% decrease in their ownership of the stock. Also, insider Kernwood Limited sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of C$19.05, for a total transaction of C$34,290.00. Following the transaction, the insider directly owned 1,889,000 shares in the company, valued at C$35,985,450. The trade was a 0.10% decrease in their ownership of the stock. In the last quarter, insiders sold 14,200 shares of company stock valued at $270,980. Company insiders own 0.67% of the company’s stock.

About Western Forest Products

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.