Western Forest Products (TSE:WEF) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Western Forest Products shares dropped below their 200-day moving average of C$12.33, trading as low as C$11.44, indicating a potential downturn in stock performance.
• Analysts have mixed views on the company, with Raymond James Financial raising their price target to C$10.00, while TD Securities and Royal Bank Of Canada have reduced their targets, reflecting uncertainty in the stock's outlook.
• Insider trading activity showed increased confidence, as Kernwood Limited purchased 211,883 shares recently, totaling over C$2.47 million, indicating that insiders are betting on the company's future performance.

Western Forest Products Inc. (TSE:WEF - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$12.33 and traded as low as C$11.44. Western Forest Products shares last traded at C$12.12, with a volume of 41,102 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WEF shares. Raymond James Financial lifted their price target on shares of Western Forest Products to C$10.00 in a research report on Friday, August 8th. Royal Bank Of Canada decreased their price target on Western Forest Products from C$21.00 to C$15.00 and set a "sector perform" rating for the company in a report on Tuesday, April 22nd. TD Securities cut their price target on shares of 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. Finally, Scotiabank increased their price objective on Western Forest Products to C$15.00 in a report on Friday, August 1st.

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 stock's fifty day moving average is C$12.22 and its two-hundred day moving average is C$12.33. The firm has a market capitalization of C$3.94 billion, a price-to-earnings ratio of -90.24, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81.

Insider Activity at Western Forest Products

In other Western Forest Products news, insider Kernwood Limited bought 211,883 shares of Western Forest Products stock in a transaction dated Wednesday, June 11th. The shares were bought at an average price of C$11.70 per share, with a total value of C$2,479,031.10. Insiders have purchased a total of 248,382 shares of company stock valued at $2,901,154 over the last 90 days. Company insiders own 0.67% of the company's stock.

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.