Shares of Western Forest Products Inc. (TSE:WEF – Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$16.11 and traded as high as C$17.41. Western Forest Products shares last traded at C$17.08, with a volume of 14,812 shares trading hands.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. TD increased their target price on shares of Western Forest Products from C$19.00 to C$20.00 and gave the stock a “hold” rating in a report on Friday, August 14th. Raymond James Financial lifted their target price on Western Forest Products from C$12.50 to C$20.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Royal Bank Of Canada upped their price target on Western Forest Products from C$16.00 to C$18.00 and gave the stock a “sector perform” rating in a report on Friday, August 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 a consensus price target of C$18.40.
Check Out Our Latest Stock Report on Western Forest Products
Western Forest Products Price Performance
Western Forest Products (TSE:WEF – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported C$1.10 earnings per share for the quarter. Western Forest Products had a negative net margin of 9.64% and a negative return on equity of 17.78%. The firm had revenue of C$239.60 million for the quarter. As a group, equities research analysts predict that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.
Insider Activity at Western Forest Products
In other Western Forest Products news, Director Elizabeth Kernaghan sold 1,800 shares of the firm’s stock in a transaction on Tuesday, July 14th. The stock was 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 of the company’s stock, valued at approximately C$35,985,450. This trade represents a 0.10% decrease in their ownership of the stock. Also, insider Kernwood Limited sold 1,800 shares of the business’s stock in a transaction on 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 sale, the insider 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. Insiders sold a total of 14,200 shares of company stock valued at $270,980 over the last three months. Insiders own 0.67% of the company’s stock.
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.
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