Western Forest Products Inc. (TSE:WEF – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$19.02 and last traded at C$19.01, with a volume of 58466 shares traded. The stock had previously closed at C$18.08.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of Western Forest Products from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a research note on Thursday, April 16th. Raymond James Financial raised their target price on Western Forest Products from C$12.50 to C$20.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Finally, TD upped their price target on Western Forest Products from C$17.00 to C$19.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, Western Forest Products currently has a consensus rating of “Hold” and an average target price of C$17.40.
Read Our Latest Analysis on Western Forest Products
Western Forest Products Stock Performance
Western Forest Products (TSE:WEF – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported C($1.83) earnings per share (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$201.50 million during the quarter. As a group, equities analysts forecast that Western Forest Products Inc. will post 0.004992 EPS for the current year.
Insider Transactions at Western Forest Products
In related news, insider Kernwood Limited sold 2,700 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of C$19.00, for a total transaction of C$51,300.00. Following the sale, the insider owned 1,900,800 shares of the company’s stock, valued at C$36,115,200. The trade was a 0.14% decrease in their ownership of the stock. Also, Director Elizabeth Kernaghan sold 1,800 shares of the company’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of C$19.05, for a total transaction of C$34,290.00. Following the completion of the sale, the director owned 1,889,000 shares in the company, valued at approximately C$35,985,450. This trade represents a 0.10% decrease in their position. Over the last three months, insiders have sold 14,200 shares of company stock valued at $270,980. 0.67% of the stock is currently owned by corporate insiders.
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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