Western Forest Products (TSE:WEF) Price Target Raised to C$10.00

Key Points

• Raymond James Financial has significantly increased its price target for Western Forest Products from C$0.40 to C$10.00, indicating a potential downside of 19.35% from the current price.
• Scotiabank has raised its price objective for the stock to C$15.00, while TD Securities lowered it to C$13.50 and Royal Bank Of Canada reduced their target to C$15.00, reflecting varied analyst sentiments about the stock's future.
• Western Forest Products' shares recently traded at C$12.40, with a market capitalization of C$3.93 billion and a debt-to-equity ratio of 19.61, showcasing its financial stability amidst fluctuating price targets.

Western Forest Products (TSE:WEF - Get Free Report) had its target price boosted by stock analysts at Raymond James Financial to C$10.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Raymond James Financial's target price indicates a potential downside of 17.49% from the company's current price.

Several other research firms have also recently issued reports on WEF. TD Securities lowered their price objective on Western Forest Products from C$16.50 to C$13.50 and set a "hold" rating on the stock in a report on Thursday, April 17th. Scotiabank lifted their price objective on Western Forest Products to C$15.00 in a report on Friday, August 1st. Finally, Royal Bank Of Canada lowered their price objective on Western Forest Products from C$21.00 to C$15.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 22nd.

Western Forest Products Price Performance

Shares of TSE WEF remained flat at C$12.12 during trading on Friday. 2,466 shares of the stock traded hands, compared to its average volume of 13,911. The firm's fifty day simple moving average is C$12.21 and its two-hundred day simple moving average is C$12.33. Western Forest Products has a 1-year low of C$10.80 and a 1-year high of C$17.40. The firm has a market capitalization of C$3.84 billion, a price-to-earnings ratio of -87.85, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81. The company has a quick ratio of 0.73, a current ratio of 3.04 and a debt-to-equity ratio of 19.61.

Insiders Place Their Bets

In other Western Forest Products news, insider Kernwood Limited purchased 211,883 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were purchased at an average cost of C$11.70 per share, for a total transaction of C$2,479,031.10. Insiders have bought 248,382 shares of company stock worth $2,901,154 in the last quarter. Insiders own 0.67% of the company's stock.

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.