Western Forest Products (TSE:WEF) Sets New 52-Week High - Time to Buy?

Key Points

• Western Forest Products reached a new 52-week high of C$19.02, up from its prior close of C$18.08, with the stock last trading near C$19.01.
• Analysts remain cautious despite raising price targets: all five analysts rate the shares Hold, with a consensus target of C$17.40—below the current price.
• The company reported weak quarterly results, including a loss of C$1.83 per share, a negative 12.23% net margin and negative 22.88% return on equity. Insiders have also sold 14,200 shares over the past 90 days.

Western Forest Products Inc. (TSE:WEF - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as C$19.02 and last traded at C$19.01, with a volume of 58466 shares. The stock had previously closed at C$18.08.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WEF shares. Royal Bank Of Canada boosted their price target on shares of Western Forest Products from C$13.00 to C$14.00 and gave the stock a "sector perform" rating in a report on Thursday, April 16th. TD increased their price objective on Western Forest Products from C$17.00 to C$19.00 and gave the company a "hold" rating in a report on Tuesday, July 14th. Finally, Raymond James Financial increased their price objective on Western Forest Products from C$12.50 to C$20.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of C$17.40.

Western Forest Products Price Performance

The business has a fifty day moving average of C$17.40 and a 200-day moving average of C$15.44. The company has a current ratio of 2.63, a quick ratio of 0.73 and a debt-to-equity ratio of 15.10. The firm has a market cap of C$200.81 million, a PE ratio of -1.77, a PEG ratio of 0.32 and a beta of 0.22.

Western Forest Products (TSE:WEF - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported C($1.83) earnings per share for the quarter. Western Forest Products had a negative net margin of 12.23% and a negative return on equity of 22.88%. The company had revenue of C$201.50 million for the quarter. As a group, research analysts predict that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.

Insider Activity at Western Forest Products

In related news, insider Kernwood Limited sold 2,700 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of C$19.00, for a total transaction of C$51,300.00. Following the sale, the insider owned 1,900,800 shares of the company's stock, valued at approximately C$36,115,200. This represents a 0.14% decrease in their position. Also, Director Elizabeth Kernaghan sold 1,800 shares of the stock in a transaction that occurred 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 sale, the director owned 1,889,000 shares in the company, valued at C$35,985,450. This represents a 0.10% decrease in their ownership of the stock. In the last ninety days, insiders have sold 14,200 shares of company stock valued at $270,980. 0.67% of the stock is owned by corporate insiders.

Western Forest Products Company Profile

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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