Shares of Western Forest Products Inc. (TSE:WEF – Get Free Report) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$16.13 and traded as high as C$16.85. Western Forest Products shares last traded at C$16.81, with a volume of 20,048 shares changing hands.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on WEF shares. TD raised their price objective on shares of Western Forest Products from C$16.00 to C$17.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. Royal Bank Of Canada upped their target price 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. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$15.70.
Check Out Our Latest Research Report on WEF
Western Forest Products Price Performance
Western Forest Products (TSE:WEF – Get Free Report) last announced its quarterly earnings results 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 company had revenue of C$201.50 million during the quarter. On average, sell-side analysts anticipate that Western Forest Products Inc. will post 0.004992 EPS for the current year.
Insider Buying and Selling at Western Forest Products
In other news, insider Kernwood Limited sold 2,700 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of C$19.00, for a total value of C$51,300.00. Following the sale, the insider owned 1,900,800 shares of the company’s stock, valued at approximately C$36,115,200. This represents a 0.14% decrease in their position. Over the last 90 days, insiders have sold 10,600 shares of company stock valued at $202,400. 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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