Western Forest Products (TSE:WEF) Given New C$17.00 Price Target at TD

Key Points

• TD cut Western Forest Products’ price target to C$17.00 from C$20.00 while maintaining a “hold” rating, implying roughly 20% upside from the prior close.
• Analyst sentiment remains cautious: five analysts rate the stock “hold,” with a consensus price target of C$17.80.
• Shares fell to C$14.14 in Wednesday trading. The company reported C$239.6 million in quarterly revenue and C$1.10 earnings per share, but continues to post negative profitability metrics.

Western Forest Products (TSE:WEF - Get Free Report) had its price target cut by stock analysts at TD from C$20.00 to C$17.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage presently has a "hold" rating on the stock. TD's price target would indicate a potential upside of 20.23% from the company's previous close.

Other research analysts have also recently issued reports about the company. Royal Bank Of Canada lifted their price target on Western Forest Products from C$16.00 to C$18.00 and gave the company a "sector perform" rating in a research report on Friday, August 14th. Raymond James Financial boosted their price target on Western Forest Products from C$12.50 to C$20.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Five equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of C$17.80.

Western Forest Products Stock Performance

WEF traded down C$0.54 during midday trading on Wednesday, hitting C$14.14. 38,854 shares of the company were exchanged, compared to its average volume of 39,080. The company's 50 day simple moving average is C$17.82 and its 200 day simple moving average is C$16.71. The firm has a market capitalization of C$149.29 million, a price-to-earnings ratio of -1.77, a price-to-earnings-growth ratio of 0.32 and a beta of -0.06. The company has a current ratio of 2.44, a quick ratio of 0.73 and a debt-to-equity ratio of 12.63. Western Forest Products has a 1-year low of C$10.16 and a 1-year high of C$19.95.

Western Forest Products (TSE:WEF - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported C$1.10 earnings per share for the quarter. Western Forest Products had a negative return on equity of 17.78% and a negative net margin of 9.64%. The business had revenue of C$239.60 million during the quarter. As a group, sell-side analysts predict that Western Forest Products will post 0.00 earnings per share for the current year.

About Western Forest Products

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity of 785 million board feet from five sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing facilities.

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