Western Forest Products (TSE:WEF) Reaches New 12-Month Low – Here’s What Happened

Western Forest Products Inc. (TSE:WEF) shares hit a new 52-week low during trading on Monday . The company traded as low as C$10.16 and last traded at C$10.39, with a volume of 8128 shares trading hands. The stock had previously closed at C$10.38.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Raymond James Financial increased their target price on Western Forest Products to C$10.00 in a research note on Friday, August 8th. Scotiabank boosted their target price on shares of Western Forest Products to C$15.00 in a research report on Friday, August 1st. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$13.38.

Western Forest Products Trading Down 1.2%

The stock’s fifty day moving average price is C$11.92 and its two-hundred day moving average price is C$12.17. The company has a market capitalization of C$108.33 million, a PE ratio of -1.66, a price-to-earnings-growth ratio of 0.32 and a beta of 0.71. The company has a quick ratio of 0.73, a current ratio of 3.04 and a debt-to-equity ratio of 19.61.

Western Forest Products (TSE:WEF) last posted its earnings results on Wednesday, November 5th. The company reported C($5.71) earnings per share for the quarter. Western Forest Products had a negative return on equity of 7.69% and a negative net margin of 4.21%.The firm had revenue of C$233.00 million for the quarter. Sell-side analysts anticipate that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Kernwood Limited acquired 2,600 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were purchased at an average cost of C$11.55 per share, for a total transaction of C$30,030.00. Following the transaction, the insider directly owned 1,791,200 shares of the company’s stock, valued at approximately C$20,688,360. This trade represents a 0.15% increase in their ownership of the stock. Also, Director Elizabeth Kernaghan purchased 2,600 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was acquired at an average price of C$11.55 per share, with a total value of C$30,030.00. Following the completion of the purchase, the director directly owned 1,791,200 shares in the company, valued at C$20,688,360. This trade represents a 0.15% increase in their ownership of the stock. Over the last ninety days, insiders have acquired 231,600 shares of company stock valued at $2,781,996. 0.67% of the stock is 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.