Western Forest Products (TSE:WEF) Insider Kernwood Limited Purchases 20,200 Shares

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 acquired 20,200 shares of Western Forest Products stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average price of C$12.23 per share, with a total value of C$247,046.00. Following the transaction, the insider directly owned 1,609,800 shares in the company, valued at approximately C$19,687,854. This trade represents a 1.27% increase in their ownership of the stock.

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

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

Western Forest Products Stock Performance

WEF stock traded down C$0.50 during trading on Tuesday, reaching C$12.90. 27,557 shares of the company's stock were exchanged, compared to its average volume of 15,800. The company has a quick ratio of 0.73, a current ratio of 3.04 and a debt-to-equity ratio of 19.61. Western Forest Products Inc. has a 1-year low of C$10.80 and a 1-year high of C$17.40. The company's fifty day moving average price is C$12.48 and its 200-day moving average price is C$12.27. The firm has a market cap of C$136.20 million, a PE ratio of -5.75, a P/E/G ratio of 0.32 and a beta of 0.78.

Wall Street Analysts Forecast Growth

WEF has been the subject of several research analyst reports. Raymond James Financial upped their price objective on Western Forest Products to C$10.00 in a report on Friday, August 8th. Scotiabank upped their price target on Western Forest Products to C$15.00 in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$13.38.

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.