Western Forest Products (TSE:WEF) Shares Pass Below 200 Day Moving Average - Should You Sell?

Key Points

• Western Forest Products Inc. shares fell below their 200-day moving average of C$12.28, trading as low as C$11.90, indicating a potential bearish trend.
• Analysts have mixed views on the stock, with target prices ranging from C$10.00 to C$15.00 and a consensus rating of "Hold" as of the latest reports.
• Insiders, including Director Elizabeth Kernaghan, demonstrated confidence by purchasing shares at C$12.20, indicating a 0.45% increase in their ownership, amidst a broader accumulation of 147,200 shares by insiders recently.

Shares of Western Forest Products Inc. (TSE:WEF - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$12.28 and traded as low as C$11.90. Western Forest Products shares last traded at C$12.09, with a volume of 52,035 shares changing hands.

Wall Street Analyst Weigh In

WEF has been the topic of a number of research analyst reports. Scotiabank raised their target price on Western Forest Products to C$15.00 in a report on Friday, August 1st. Raymond James Financial raised their target price on Western Forest Products to C$10.00 in a report on Friday, August 8th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of C$13.38.

Western Forest Products Stock Performance

The company has a debt-to-equity ratio of 19.61, a quick ratio of 0.73 and a current ratio of 3.04. The company has a market cap of C$127.65 million, a price-to-earnings ratio of -5.39, a P/E/G ratio of 0.32 and a beta of 0.78. The company has a fifty day moving average of C$12.64 and a two-hundred day moving average of C$12.28.

Insider Buying and Selling at Western Forest Products

In other news, Director Elizabeth Kernaghan acquired 7,400 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were bought at an average price of C$12.20 per share, with a total value of C$90,280.00. Following the acquisition, the director directly owned 1,653,500 shares in the company, valued at C$20,172,700. The trade was a 0.45% increase in their position. Also, insider Kernwood Limited acquired 7,400 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were purchased at an average cost of C$12.20 per share, for a total transaction of C$90,280.00. Following the acquisition, the insider owned 1,653,500 shares in the company, valued at C$20,172,700. This represents a 0.45% increase in their ownership of the stock. In the last three months, insiders have purchased 147,200 shares of company stock worth $1,796,800. 0.67% of the stock is currently owned by company 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.

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