Western Forest Products (TSE:WEF) Stock Price Breaks Above Two Hundred Day Moving Average – What’s Next?

Western Forest Products Inc. (TSE:WEF)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$16.04 and traded as high as C$16.37. Western Forest Products shares last traded at C$16.37, with a volume of 33,899 shares.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Raymond James Financial boosted their target price on shares of Western Forest Products from C$12.50 to C$20.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Royal Bank Of Canada increased their price target on shares of Western Forest Products from C$16.00 to C$18.00 and gave the company a “sector perform” rating in a report on Friday, August 14th. Finally, TD decreased their price target on shares of Western Forest Products from C$20.00 to C$17.00 and set a “hold” rating on the stock in a research report on Wednesday, October 14th. Five analysts have rated the stock with a Hold rating. According to MarketBeat.com, Western Forest Products currently has a consensus rating of “Hold” and an average target price of C$17.80.

Western Forest Products Trading Up 6.9%

The firm has a market capitalization of C$172.83 million, a price-to-earnings ratio of -2.05, a P/E/G ratio of 0.32 and a beta of -0.06. The business has a 50-day moving average of C$16.68 and a two-hundred day moving average of C$16.04. The company has a quick ratio of 0.73, a current ratio of 2.44 and a debt-to-equity ratio of 12.63.

Western Forest Products (TSE:WEF) last issued its quarterly earnings results on Wednesday, August 12th. The company reported C$1.10 earnings per share (EPS) for the quarter. The firm had revenue of C$239.60 million for the quarter. Western Forest Products had a negative return on equity of 17.78% and a negative net margin of 9.64%. Research analysts predict that Western Forest Products Inc. will post 0.00 EPS for the current fiscal year.

Western Forest Products Company Profile

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity of 785 million board feet from five sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing facilities.