Scotiabank Forecasts Strong Price Appreciation for Western Forest Products (TSE:WEF) Stock

Key Points

• Analysts at Scotiabank raised their price target for Western Forest Products from C$0.50 to C$15.00, indicating a potential upside of 13.21% from the stock's previous close.
• Other analysts, including Royal Bank Of Canada and Raymond James Financial, adjusted their price targets lower, with RBC setting a target of C$15.00 and Raymond James lowering it to C$12.00.
• Insider transactions showed significant interest, with insiders purchasing 248,382 shares valued at approximately C$2.9 million over the last quarter.

Western Forest Products (TSE:WEF - Get Free Report) had its price objective boosted by Scotiabank to C$15.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Scotiabank's price target indicates a potential upside of 13.72% from the stock's current price. Scotiabank also issued estimates for Western Forest Products' FY2026 earnings at $1.01 EPS.

Several other research analysts also recently commented on the company. TD Securities cut their target price 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. Raymond James Financial dropped their target price on shares of Western Forest Products from C$15.00 to C$12.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Finally, Royal Bank Of Canada cut their target price on Western Forest Products from C$21.00 to C$15.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 22nd.

Western Forest Products Price Performance

Shares of TSE:WEF traded down C$0.13 during trading on Friday, hitting C$13.19. 44,976 shares of the company were exchanged, compared to its average volume of 13,388. Western Forest Products has a 1-year low of C$10.80 and a 1-year high of C$17.40. The company has a market capitalization of C$4.18 billion, a P/E ratio of -95.60, 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. The business's 50 day moving average is C$12.13 and its 200-day moving average is C$12.33.

Insiders Place Their Bets

In related news, insider Kernwood Limited acquired 35,433 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were bought at an average price of C$11.55 per share, with a total value of C$409,251.15. Insiders have acquired 248,382 shares of company stock valued at $2,901,154 over the last ninety days. 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.