Western Forest Products (TSE:WEF) Stock Crosses Above 200 Day Moving Average – What’s Next?
by Amy Steele · The Cerbat GemWestern Forest Products Inc. (TSE:WEF – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$13.32 and traded as high as C$16.25. Western Forest Products shares last traded at C$15.72, with a volume of 42,591 shares changing hands.
Wall Street Analysts Forecast Growth
WEF has been the topic of a number of research reports. Royal Bank Of Canada raised 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 report on Thursday, April 16th. Raymond James Financial raised their target price on shares of Western Forest Products from C$12.00 to C$13.50 and gave the company a “market perform” rating in a research report on Friday, February 20th. TD Securities raised their target price on shares of Western Forest Products from C$14.00 to C$16.00 and gave the company a “hold” rating in a research report on Thursday, February 12th. Finally, TD raised their target price 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, Based on data from MarketBeat, Western Forest Products currently has a consensus rating of “Hold” and an average target price of C$15.70.
Western Forest Products Stock Performance
The business’s 50-day moving average price is C$14.37 and its 200-day moving average price is C$13.32. The company has a current ratio of 2.63, a quick ratio of 0.73 and a debt-to-equity ratio of 15.10. The stock has a market cap of C$165.97 million, a PE ratio of -1.47, a P/E/G ratio of 0.32 and a beta of 0.24.
Western Forest Products (TSE:WEF – Get Free Report) last issued its quarterly earnings data 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 research analysts expect that Western Forest Products Inc. will post 0.004992 earnings per share for the current fiscal 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.