Western Forest Products (TSE:WEF) Insider Buys C$247,046.00 in Stock

Key Points

• Kernwood Limited acquired a total of C$247,046 worth of Western Forest Products stock, increasing their position by 1.27% to own 1,609,800 shares.
• The stock traded up 2.2% to C$12.60, with a market capitalization of C$133.03 million and a PE ratio of -5.61.
• Equities analysts have set new price targets, with Scotiabank increasing their target to C$15.00, while Raymond James Financial set their objective at C$10.00.

Western Forest Products Inc. (TSE:WEF - Get Free Report) insider Kernwood Limited bought 20,200 shares of Western Forest Products stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average cost of C$12.23 per share, with a total value of C$247,046.00. Following the acquisition, the insider directly owned 1,609,800 shares in the company, valued at C$19,687,854. This trade represents a 1.27% increase in their position.

Kernwood Limited also recently made the following trade(s):

• On Monday, September 8th, Kernwood Limited purchased 4,200 shares of Western Forest Products stock. The shares were bought at an average cost of C$12.25 per share, for a total transaction of C$51,450.00.
• On Monday, September 8th, Kernwood Limited purchased 300 shares of Western Forest Products stock. The shares were bought at an average cost of C$12.24 per share, for a total transaction of C$3,672.00.
• On Monday, September 8th, Kernwood Limited purchased 1,100 shares of Western Forest Products stock. The shares were bought at an average cost of C$12.22 per share, for a total transaction of C$13,442.00.
• On Monday, September 8th, Kernwood Limited purchased 5,700 shares of Western Forest Products stock. The shares were bought at an average cost of C$12.20 per share, for a total transaction of C$69,540.00.
• On Monday, September 8th, Kernwood Limited purchased 14,900 shares of Western Forest Products stock. The shares were bought at an average cost of C$12.18 per share, for a total transaction of C$181,482.00.
• On Tuesday, September 9th, Kernwood Limited bought 3,500 shares of Western Forest Products stock. The shares were acquired at an average cost of C$12.25 per share, for a total transaction of C$42,875.00.
• On Tuesday, September 9th, Kernwood Limited bought 400 shares of Western Forest Products stock. The shares were acquired at an average cost of C$12.24 per share, for a total transaction of C$4,896.00.
• On Tuesday, September 9th, Kernwood Limited bought 100 shares of Western Forest Products stock. The shares were acquired at an average cost of C$12.22 per share, for a total transaction of C$1,222.00.
• On Tuesday, September 9th, Kernwood Limited bought 10,500 shares of Western Forest Products stock. The shares were acquired at an average cost of C$12.20 per share, for a total transaction of C$128,100.00.
• On Wednesday, September 10th, Kernwood Limited bought 7,400 shares of Western Forest Products stock. The shares were acquired at an average cost of C$12.20 per share, for a total transaction of C$90,280.00.

Western Forest Products Trading Up 2.2%

WEF traded up C$0.27 during trading on Thursday, reaching C$12.60. 14,333 shares of the company's stock were exchanged, compared to its average volume of 15,063. Western Forest Products Inc. has a one year low of C$10.80 and a one year high of C$17.40. The company has a current ratio of 3.04, a quick ratio of 0.73 and a debt-to-equity ratio of 19.61. The stock has a market capitalization of C$133.03 million, a PE ratio of -5.61, a price-to-earnings-growth ratio of 0.32 and a beta of 0.78. The firm has a fifty day moving average price of C$12.43 and a two-hundred day moving average price of C$12.30.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Scotiabank increased their price target on shares of Western Forest Products to C$15.00 in a research report on Friday, August 1st. Raymond James Financial raised their price objective on Western Forest Products to C$10.00 in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Western Forest Products has an average rating of "Hold" and a consensus target price of C$13.38.

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.

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