Western Forest Products (TSE:WEF) Reaches New 12-Month High – Still a Buy?
by Sarita Garza · The Markets DailyWestern Forest Products Inc. (TSE:WEF – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$18.13 and last traded at C$17.89, with a volume of 38887 shares traded. The stock had previously closed at C$16.77.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on WEF shares. Raymond James Financial increased their price target on shares of Western Forest Products from C$12.00 to C$13.50 and gave the stock a “market perform” rating in a report on Friday, February 20th. 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 note on Thursday, April 16th. 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 note on Thursday, February 12th. Finally, 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 note on Thursday, April 16th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$15.70.
Get Our Latest Analysis on WEF
Western Forest Products Price Performance
The stock has a market capitalization of C$190.47 million, a PE ratio of -1.68, a P/E/G ratio of 0.32 and a beta of 0.27. The firm’s 50 day simple moving average is C$14.90 and its 200 day simple moving average is C$13.71. The company has a debt-to-equity ratio of 15.10, a current ratio of 2.63 and a quick ratio of 0.73.
Western Forest Products (TSE:WEF – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C($1.83) EPS for the quarter. The business had revenue of C$201.50 million for the quarter. Western Forest Products had a negative return on equity of 22.88% and a negative net margin of 12.23%. As a group, equities analysts forecast that Western Forest Products Inc. will post 0.004992 EPS 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.