Western Forest Products (TSE:WEF) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Key Points

• Raymond James raised Western Forest Products’ price target to C$20.00 from C$12.50, implying 15.27% upside, while maintaining a “market perform” rating.
• Analysts broadly remain cautious: five analysts rate the stock “Hold,” with a consensus target price of C$17.40.
• Western Forest Products reported a quarterly loss of C$1.83 per share on C$201.5 million in revenue, alongside negative net margin and return on equity. Insiders have sold 14,200 shares worth about C$270,980 over the past three months.

Western Forest Products (TSE:WEF - Get Free Report) had its target price upped by equities research analysts at Raymond James Financial from C$12.50 to C$20.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a "market perform" rating on the stock. Raymond James Financial's target price would indicate a potential upside of 15.27% from the stock's current price.

Several other analysts have also recently commented on the stock. Royal Bank Of Canada lifted their price objective on shares of Western Forest Products from C$13.00 to C$14.00 and gave the company a "sector perform" rating in a research note on Thursday, April 16th. TD lifted their target price on Western Forest Products from C$17.00 to C$19.00 and gave the stock a "hold" rating in a research report on Tuesday, July 14th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Western Forest Products presently has a consensus rating of "Hold" and a consensus target price of C$17.40.

Western Forest Products Stock Performance

WEF stock traded up C$0.04 during mid-day trading on Monday, hitting C$17.35. The company had a trading volume of 20,908 shares, compared to its average volume of 41,583. The firm has a market cap of C$183.18 million, a PE ratio of -1.62, a price-to-earnings-growth ratio of 0.32 and a beta of 0.22. Western Forest Products has a 12 month low of C$10.16 and a 12 month high of C$19.40. The company has a debt-to-equity ratio of 15.10, a quick ratio of 0.73 and a current ratio of 2.63. The stock's fifty day moving average price is C$16.95 and its two-hundred day moving average price is C$15.19.

Western Forest Products (TSE:WEF - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported C($1.83) earnings per share (EPS) for the quarter. The firm had revenue of C$201.50 million during the quarter. Western Forest Products had a negative net margin of 12.23% and a negative return on equity of 22.88%. On average, analysts forecast that Western Forest Products will post 0.004992 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Kernwood Limited sold 1,800 shares of the stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of C$19.05, for a total value of C$34,290.00. Following the transaction, the insider directly 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. Also, Director Elizabeth Kernaghan sold 1,800 shares of Western Forest Products 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 transaction, the director directly owned 1,889,000 shares in the company, valued at C$35,985,450. The trade was a 0.10% decrease in their position. In the last three months, insiders sold 14,200 shares of company stock valued at $270,980. 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.

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