Western Forest Products (TSE:WEF) Price Target Raised to C$20.00 at TD

Key Points

• TD raised Western Forest Products’ price target to C$20.00 from C$19.00 while maintaining a “hold” rating, implying 6.33% potential upside from the previous close.
• Analyst sentiment remains cautious: RBC and Raymond James also maintain performance-equivalent ratings, while the consensus is “Hold” with an average target price of C$18.40.
• The stock closed at C$18.81, near its 52-week high of C$19.40. The company reported C$239.6 million in quarterly revenue and C$1.10 in EPS, but continued to show a negative net margin and return on equity.

Western Forest Products (TSE:WEF - Get Free Report) had its target price upped by stock analysts at TD from C$19.00 to C$20.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. TD's price objective would indicate a potential upside of 6.33% from the company's previous close.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada lifted their price target on shares of Western Forest Products from C$16.00 to C$18.00 and gave the stock a "sector perform" rating in a research note on Friday. Raymond James Financial raised their price objective on shares of Western Forest Products from C$12.50 to C$20.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of C$18.40.

Western Forest Products Stock Up 0.4%

WEF traded up C$0.07 on Friday, reaching C$18.81. The company's stock had a trading volume of 34,655 shares, compared to its average volume of 41,188. Western Forest Products has a 1 year low of C$10.16 and a 1 year high of C$19.40. The business's 50 day moving average is C$17.83 and its 200 day moving average is C$15.70. The company has a debt-to-equity ratio of 15.10, a current ratio of 2.63 and a quick ratio of 0.73. The stock has a market cap of C$198.60 million, a price-to-earnings ratio of -1.75, a price-to-earnings-growth ratio of 0.32 and a beta of 0.23.

Western Forest Products (TSE:WEF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported C$1.10 earnings per share (EPS) for the quarter. Western Forest Products had a negative return on equity of 22.88% and a negative net margin of 12.23%.The company had revenue of C$239.60 million for the quarter. As a group, research analysts forecast that Western Forest Products will post 0.004992 EPS for the current fiscal year.

Insider Buying and Selling at Western Forest Products

In other Western Forest Products news, insider Kernwood Limited sold 2,700 shares of Western Forest Products stock in a transaction on Thursday, June 18th. The shares were sold at an average price of C$19.00, for a total value of C$51,300.00. Following the completion of the transaction, the insider owned 1,900,800 shares of the company's stock, valued at C$36,115,200. The trade was a 0.14% decrease in their ownership of the stock. Also, Director Elizabeth Kernaghan sold 1,800 shares of Western Forest Products stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of C$19.05, for a total transaction of C$34,290.00. Following the completion of the transaction, the director directly owned 1,889,000 shares of the company's stock, valued at approximately C$35,985,450. This represents a 0.10% decrease in their position. Insiders have sold 14,200 shares of company stock worth $270,980 over the last 90 days. 0.67% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source