Raymond James Financial Forecasts Strong Price Appreciation for Western Forest Products (TSE:WEF) Stock
by Michael Walen · The Markets DailyWestern Forest Products (TSE:WEF – Get Free Report) had its price target hoisted by analysts at Raymond James Financial from C$12.00 to C$13.50 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James Financial’s price target suggests a potential downside of 4.93% from the stock’s previous close.
A number of other analysts have also recently weighed in on WEF. TD Securities raised their price target on shares of Western Forest Products from C$14.00 to C$16.00 and gave the company a “hold” rating in a report on Thursday, February 12th. Scotiabank raised their target price on shares of Western Forest Products from C$12.50 to C$18.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$15.63.
Check Out Our Latest Stock Report on Western Forest Products
Western Forest Products Stock Up 5.4%
Shares of TSE:WEF traded up C$0.73 during trading hours on Friday, hitting C$14.20. The company’s stock had a trading volume of 93,145 shares, compared to its average volume of 46,891. The firm’s fifty day moving average price is C$13.17 and its 200 day moving average price is C$12.44. Western Forest Products has a 52 week low of C$10.16 and a 52 week high of C$17.28. The company has a market capitalization of C$149.92 million, a price-to-earnings ratio of -1.88, a P/E/G ratio of 0.32 and a beta of 1.02. The company has a debt-to-equity ratio of 19.61, a current ratio of 3.04 and a quick ratio of 0.73.
Western Forest Products (TSE:WEF – Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The company reported C($1.55) earnings per share (EPS) for the quarter. The company had revenue of C$201.90 million during the quarter. Western Forest Products had a negative net margin of 4.21% and a negative return on equity of 7.69%. As a group, research analysts expect that Western Forest Products will post 0.004992 EPS for the current 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.