Western Forest Products Inc. (TSE:WEF – Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$18.76 and last traded at C$18.70, with a volume of 27521 shares. The stock had previously closed at C$18.58.
Analyst Upgrades and Downgrades
WEF has been the topic of several recent research reports. Royal Bank Of Canada increased their price objective on Western Forest Products from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a research report 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 stock a “market perform” rating in a research report on Friday, February 20th. Finally, TD increased their price target on shares of Western Forest Products from C$16.00 to C$17.00 and gave the company a “hold” rating in a research report on Thursday, April 16th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, Western Forest Products has a consensus rating of “Hold” and an average price target of C$15.70.
Read Our Latest Stock Analysis on Western Forest Products
Western Forest Products Price Performance
Western Forest Products (TSE:WEF – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C($1.83) earnings per share (EPS) for the quarter. The company had revenue of C$201.50 million for the quarter. Western Forest Products had a negative net margin of 12.23% and a negative return on equity of 22.88%. As a group, analysts predict that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.
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.
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