Insider Selling: Western Forest Products (TSE:WEF) Director Sells C$34,290.00 in Stock

Key Points

• Insider sale: Western Forest Products director Elizabeth Kernaghan sold 1,800 shares at C$19.05 each, totaling C$34,290. After the transaction, she still held 1,889,000 shares.
• Stock moved lower: WEF fell 4.3% to C$17.72 on Friday, below its recent 52-week high of C$19.40. The stock has traded between C$10.16 and C$19.40 over the past year.
• Analyst outlook remains cautious: Brokerages have mostly kept a Hold stance on the stock, with a consensus price target of C$16.10. Recent updates from RBC and TD nudged their targets higher, but neither changed to a bullish rating.

Western Forest Products Inc. (TSE:WEF - Get Free Report) Director Elizabeth Kernaghan sold 1,800 shares of the business's stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of C$19.05, for a total transaction of C$34,290.00. Following the completion of the transaction, the director owned 1,889,000 shares in the company, valued at C$35,985,450. The trade was a 0.10% decrease in their ownership of the stock.

Western Forest Products Trading Down 4.3%

TSE:WEF traded down C$0.80 on Friday, reaching C$17.72. 35,522 shares of the company's stock were exchanged, compared to its average volume of 42,020. The business has a fifty day moving average of C$16.53 and a 200-day moving average of C$14.92. The company has a quick ratio of 0.73, a current ratio of 2.63 and a debt-to-equity ratio of 15.10. Western Forest Products Inc. has a 52-week low of C$10.16 and a 52-week high of C$19.40. The firm has a market capitalization of C$187.09 million, a price-to-earnings ratio of -1.65, a price-to-earnings-growth ratio of 0.32 and a beta of 0.22.

Western Forest Products (TSE:WEF - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C($1.83) EPS for the quarter. Western Forest Products had a negative net margin of 12.23% and a negative return on equity of 22.88%. The firm had revenue of C$201.50 million during the quarter. As a group, analysts expect that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WEF. Royal Bank Of Canada lifted their price objective on Western Forest Products from C$13.00 to C$14.00 and gave the stock a "sector perform" rating in a report on Thursday, April 16th. TD lifted their price target on Western Forest Products from C$17.00 to C$19.00 and gave the stock a "hold" rating in a research note on Tuesday. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Western Forest Products currently has an average rating of "Hold" and a consensus price target of C$16.10.

Western Forest Products Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.