Western Forest Products (TSE:WEF) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Western Forest Products shares rose above their 200-day moving average, trading at C$13.32, signaling potential upward momentum.
• Several analysts have lowered their price targets for WEF, with TD Securities setting a new target of C$13.50 and Raymond James Financial reducing theirs to C$12.00.
• Insider buying activity has been noted, with Kernwood Limited purchasing 35,433 shares recently, indicating confidence in the company's future performance.

Western Forest Products Inc. (TSE:WEF - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$12.32 and traded as high as C$13.32. Western Forest Products shares last traded at C$13.32, with a volume of 11,216 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on WEF shares. TD Securities decreased their price objective on shares of Western Forest Products from C$16.50 to C$13.50 and set a "hold" rating for the company in a research note on Thursday, April 17th. Raymond James Financial reduced their target price on Western Forest Products from C$15.00 to C$12.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Finally, Royal Bank Of Canada decreased their price objective 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.

Western Forest Products Stock Up 0.2%

The company has a debt-to-equity ratio of 19.61, a current ratio of 3.04 and a quick ratio of 0.73. The firm's 50 day moving average price is C$12.11 and its two-hundred day moving average price is C$12.33. The firm has a market cap of C$4.22 billion, a price-to-earnings ratio of -96.55, a P/E/G ratio of 0.32 and a beta of 1.81.

Insiders Place Their Bets

In related news, insider Kernwood Limited bought 35,433 shares of the stock in a transaction on Wednesday, June 25th. The shares were bought at an average cost of C$11.55 per share, for a total transaction of C$409,251.15. Over the last ninety days, insiders purchased 248,382 shares of company stock worth $2,901,154. 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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