Western Forest Products (TSE:WEF) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Technical move: Shares of Western Forest Products rose above their 200‑day moving average (C$13.06), trading as high as C$14.47 and last at C$14.45.
• Analyst view: Several firms have raised target prices recently but the consensus rating remains a "Hold" with a mean target of C$15.70.
• Weak fundamentals: The company reported a quarterly loss of C($1.83) per share, with a negative net margin (−8.09%) and return on equity (−15.26%), and a market cap of about C$152.6 million.

Shares of Western Forest Products Inc. (TSE:WEF - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$13.06 and traded as high as C$14.47. Western Forest Products shares last traded at C$14.45, with a volume of 44,435 shares.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD upped their target price on Western Forest Products from C$16.00 to C$17.00 and gave the stock a "hold" rating in a research report on Thursday, April 16th. Royal Bank Of Canada upped their target price on Western Forest Products from C$13.00 to C$14.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 16th. Raymond James Financial upped their target price on Western Forest Products from C$12.00 to C$13.50 and gave the stock a "market perform" rating in a research report on Friday, February 20th. Scotiabank upped their target price on Western Forest Products from C$12.50 to C$18.00 and gave the stock a "sector perform" rating in a research report on Monday, January 26th. Finally, TD Securities upped their target price on Western Forest Products from C$14.00 to C$16.00 and gave the stock a "hold" rating in a research report on Thursday, February 12th. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of C$15.70.

Western Forest Products Price Performance

The stock has a market cap of C$152.56 million, a price-to-earnings ratio of -1.91, a price-to-earnings-growth ratio of 0.32 and a beta of 0.24. The stock has a fifty day simple moving average of C$14.20 and a 200-day simple moving average of C$13.06. The company has a current ratio of 2.85, a quick ratio of 0.73 and a debt-to-equity ratio of 12.40.

Western Forest Products (TSE:WEF - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported C($1.83) earnings per share (EPS) for the quarter. The business had revenue of C$201.50 million during the quarter. Western Forest Products had a negative net margin of 8.09% and a negative return on equity of 15.26%. As a group, equities research analysts expect that Western Forest Products Inc. will post 0.004992 EPS for the current year.

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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