Western Forest Products (TSE:WEF) Price Target Raised to C$18.00

Western Forest Products (TSE:WEF) had its target price increased by analysts at Scotiabank from C$12.50 to C$18.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 15.83% from the company’s current price.

Western Forest Products Price Performance

Shares of Western Forest Products stock traded up C$0.82 during trading on Monday, hitting C$15.54. 81,171 shares of the company were exchanged, compared to its average volume of 42,296. Western Forest Products has a fifty-two week low of C$10.16 and a fifty-two week high of C$15.57. The company has a quick ratio of 0.73, a current ratio of 3.04 and a debt-to-equity ratio of 19.61. The firm has a 50 day moving average price of C$11.57 and a 200 day moving average price of C$12.06. The stock has a market capitalization of C$164.07 million, a price-to-earnings ratio of -2.52, a P/E/G ratio of 0.32 and a beta of 1.04.

Western Forest Products (TSE:WEF) last issued its quarterly earnings data on Wednesday, November 5th. The company reported C($5.71) earnings per share (EPS) for the quarter. Western Forest Products had a negative net margin of 4.21% and a negative return on equity of 7.69%. The company had revenue of C$233.00 million during the quarter. On average, equities analysts expect that Western Forest Products will post 0.004992 earnings per share for the current fiscal year.

Insider Activity at Western Forest Products

In other Western Forest Products news, insider Kernwood Limited bought 2,600 shares of Western Forest Products stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average cost of C$11.55 per share, for a total transaction of C$30,030.00. Following the completion of the acquisition, the insider owned 1,791,200 shares of the company’s stock, valued at approximately C$20,688,360. This represents a 0.15% increase in their position. Also, Director Elizabeth Kernaghan bought 2,600 shares of Western Forest Products stock in a transaction dated Thursday, November 6th. The shares were bought at an average cost of C$11.55 per share, with a total value of C$30,030.00. Following the completion of the acquisition, the director owned 1,791,200 shares of the company’s stock, valued at C$20,688,360. The trade was a 0.15% increase in their ownership of the stock. Over the last 90 days, insiders purchased 73,200 shares of company stock worth $849,536. 0.67% of the stock is owned by 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.