Western Forest Products (TSE:WEF) Sets New 52-Week High – Should You Buy?

Western Forest Products Inc. (TSE:WEF – Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as C$16.89 and last traded at C$16.89, with a volume of 38886 shares traded. The stock had previously closed at C$16.85.

Wall Street Analysts Forecast Growth

WEF has been the topic of several recent research reports. TD Securities lifted their price target on shares of 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. Royal Bank Of Canada upped their price target on shares of Western Forest Products from C$13.00 to C$14.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 16th. Raymond James Financial boosted 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 research note on Friday, February 20th. Finally, TD raised their price target on Western Forest Products from C$16.00 to C$17.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$15.70.

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Western Forest Products Price Performance

The company has a quick ratio of 0.73, a current ratio of 2.63 and a debt-to-equity ratio of 15.10. The company has a market capitalization of C$174.31 million, a price-to-earnings ratio of -1.54, a PEG ratio of 0.32 and a beta of 0.27. The stock’s 50-day simple moving average is C$14.75 and its two-hundred day simple moving average is C$13.52.

Western Forest Products (TSE:WEF – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C($1.83) earnings per share for the quarter. Western Forest Products had a negative net margin of 12.23% and a negative return on equity of 22.88%. The firm had revenue of C$201.50 million during the quarter. Equities research analysts predict that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.

About Western Forest Products

(Get Free Report)

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.

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