Western Forest Products (TSE:WEF) Price Target Raised to C$10.00 at Raymond James Financial

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 raised by research analysts at Raymond James Financial to C$10.00 in a report issued on Friday,BayStreet.CA reports. Raymond James Financial's price target would suggest a potential downside of 18.30% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Scotiabank boosted their price objective on Western Forest Products to C$15.00 in a report on Friday, August 1st. Royal Bank Of Canada decreased their price target on Western Forest Products from C$21.00 to C$15.00 and set a "sector perform" rating for the company in a report on Tuesday, April 22nd. Finally, TD Securities reduced their price objective on Western Forest Products from C$16.50 to C$13.50 and set a "hold" rating for the company in a research note on Thursday, April 17th.

Western Forest Products Stock Up 0.3%

Shares of TSE WEF traded up C$0.04 during midday trading on Friday, hitting C$12.24. 1,698 shares of the stock traded hands, compared to its average volume of 13,903. The company has a market cap of C$3.88 billion, a PE ratio of -88.72, a P/E/G ratio of 0.32 and a beta of 1.81. Western Forest Products has a one year low of C$10.80 and a one year high of C$17.40. The business has a 50 day moving average price of C$12.21 and a two-hundred day moving average price of C$12.32. The company has a debt-to-equity ratio of 19.61, a quick ratio of 0.73 and a current ratio of 3.04.

Insider Buying and Selling at Western Forest Products

In other news, insider Kernwood Limited purchased 211,883 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price of C$11.70 per share, for a total transaction of C$2,479,031.10. In the last ninety days, insiders acquired 248,382 shares of company stock worth $2,901,154. 0.67% of the stock is currently owned by corporate insiders.

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.