Western Forest Products (TSE:WEF) Price Target Raised to C$17.00

Key Points

• TD raised its price target on Western Forest Products to C$17.00 (from C$16.00) while maintaining a "hold" rating, implying roughly a 19.4% upside from the current share price.
• Analyst consensus remains a Hold (five analysts) with an average target of C$15.70, although individual targets vary (Scotiabank C$18.00, Raymond James C$13.50).
• Shares traded at C$14.24 and the company reported a quarterly loss (C($1.55) EPS), negative net margin and ROE, highlighting ongoing profitability weakness despite modest market metrics (market cap ~C$150M).

Western Forest Products (TSE:WEF - Get Free Report) had its target price increased by research analysts at TD from C$16.00 to C$17.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. TD's price objective would indicate a potential upside of 19.38% from the company's current price.

Several other analysts have also recently commented on WEF. Raymond James Financial upped their target price on shares of Western Forest Products from C$12.00 to C$13.50 and gave the company a "market perform" rating in a research report on Friday, February 20th. Scotiabank upped their target price on shares of Western Forest Products from C$12.50 to C$18.00 and gave the company a "sector perform" rating in a research report on Monday, January 26th. Finally, TD Securities upped their target price on shares of Western Forest Products from C$14.00 to C$16.00 and gave the company a "hold" rating in a research report on Thursday, February 12th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of C$15.70.

Western Forest Products Trading Down 1.5%

Shares of Western Forest Products stock traded down C$0.21 on Thursday, hitting C$14.24. 16,470 shares of the company's stock traded hands, compared to its average volume of 42,806. The firm's 50-day moving average price is C$14.23 and its two-hundred day moving average price is C$12.82. The stock has a market capitalization of C$150.35 million, a PE ratio of -1.88, a price-to-earnings-growth ratio of 0.32 and a beta of 0.16. Western Forest Products has a one year low of C$10.16 and a one year high of C$17.28. The company has a debt-to-equity ratio of 12.40, a current ratio of 2.85 and a quick ratio of 0.73.

Western Forest Products (TSE:WEF - Get Free Report) last issued its earnings results on Tuesday, February 10th. The company reported C($1.55) EPS for the quarter. The business had revenue of C$201.90 million for the quarter. Western Forest Products had a negative net margin of 8.09% and a negative return on equity of 15.26%. On average, research analysts expect that Western Forest Products will post 0.004992 EPS for the current fiscal year.

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. The firm purchases and harvests logs which are then manufactured into lumber products at its sawmills, or sold. Canada and the United States, represent the company's largest markets and contribute the vast majority of its total revenue.

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