Western Forest Products (TSE:WEF - Get Rating) was upgraded by stock analysts at TD Securities from a "hold" rating to a "buy" rating in a research report issued on Friday, BayStreet.CA reports. The brokerage currently has a C$1.85 target price on the stock, up from their previous target price of C$1.75. TD Securities' price target would suggest a potential upside of 22.52% from the stock's previous close.
A number of other research firms have also issued reports on WEF. CIBC lowered their target price on Western Forest Products from C$2.50 to C$1.75 in a report on Friday, July 8th. Raymond James set a C$3.25 target price on Western Forest Products and gave the stock a "strong-buy" rating in a report on Thursday, May 5th.
Western Forest Products Stock Performance
Western Forest Products stock traded up C$0.05 during mid-day trading on Friday, reaching C$1.51. The company's stock had a trading volume of 365,709 shares, compared to its average volume of 806,779. The firm has a market cap of C$491.52 million and a price-to-earnings ratio of 2.85. The business has a 50 day moving average price of C$1.57 and a 200-day moving average price of C$1.87. The company has a current ratio of 2.51, a quick ratio of 0.92 and a debt-to-equity ratio of 3.02. Western Forest Products has a twelve month low of C$1.38 and a twelve month high of C$2.40.
Western Forest Products (TSE:WEF - Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported C$0.11 EPS for the quarter, missing analysts' consensus estimates of C$0.14 by C($0.03). The business had revenue of C$359.60 million for the quarter. Sell-side analysts predict that Western Forest Products will post 0.3 EPS for the current fiscal year.
About Western Forest Products
Western Forest Products Inc engages in the timber harvesting, sawmilling logs into specialty lumber, value-added lumber remanufacturing, and lumber purchasing and wholesaling businesses. Its products have applications in outdoor living; exterior appearance; interior living; and structural applications.
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