Western Forest Products (TSE:WEF) Given New C$0.50 Price Target at Royal Bank of Canada

Western Forest Products (TSE:WEF - Get Free Report) had its target price dropped by analysts at Royal Bank of Canada from C$0.70 to C$0.50 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank of Canada's price objective indicates a potential upside of 33.33% from the stock's previous close.

Several other brokerages also recently commented on WEF. Raymond James reduced their target price on Western Forest Products from C$0.60 to C$0.50 in a report on Thursday, January 30th. TD Securities reduced their price objective on Western Forest Products from C$0.55 to C$0.45 and set a "hold" rating on the stock in a research note on Thursday, April 17th.

Western Forest Products Price Performance

WEF stock traded up C$0.01 during trading on Tuesday, hitting C$0.38. 1,791,426 shares of the stock traded hands, compared to its average volume of 315,815. The stock has a market cap of C$118.78 million, a price-to-earnings ratio of -2.72, a P/E/G ratio of 0.32 and a beta of 1.81. Western Forest Products has a one year low of C$0.36 and a one year high of C$0.58. 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 company has a 50 day simple moving average of C$0.42 and a 200 day simple moving average of C$0.44.

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.