TD Securities Lowers Western Forest Products (TSE:WEF) Price Target to C$0.65

Western Forest Products (TSE:WEF) had its target price cut by TD Securities from C$0.75 to C$0.65 in a report issued on Tuesday morning, BayStreet.CA reports. They currently have a hold rating on the stock.

WEF has been the topic of a number of other research reports. CIBC decreased their price target on shares of Western Forest Products from C$0.75 to C$0.65 and set a neutral rating on the stock in a report on Thursday, February 15th. Royal Bank of Canada reduced their target price on Western Forest Products from C$1.00 to C$0.80 and set a sector perform rating on the stock in a research note on Tuesday, December 19th. Finally, Scotiabank set a C$0.80 price target on Western Forest Products and gave the company a sector perform rating in a research report on Monday, January 22nd. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of C$0.73.

Western Forest Products Price Performance

Western Forest Products stock opened at C$0.58 on Tuesday. The business has a 50-day simple moving average of C$0.61 and a 200 day simple moving average of C$0.68. Western Forest Products has a 52 week low of C$0.55 and a 52 week high of C$1.14. The stock has a market cap of C$183.72 million, a price-to-earnings ratio of -2.64, a PEG ratio of 0.32 and a beta of 1.93. The company has a quick ratio of 0.73, a current ratio of 2.77 and a debt-to-equity ratio of 18.42.

Western Forest Products (TSE:WEF) last issued its quarterly earnings data on Tuesday, February 13th. The company reported C($0.04) EPS for the quarter, topping the consensus estimate of C($0.05) by C$0.01. The company had revenue of C$246.60 million during the quarter. Western Forest Products had a negative return on equity of 11.50% and a negative net margin of 6.73%. On average, research analysts forecast that Western Forest Products will post 0.004992 earnings per share for the current fiscal year.

Insider Transactions at Western Forest Products

In other Western Forest Products news, Senior Officer Joseph Steven Hofer purchased 100,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of C$0.63 per share, for a total transaction of C$63,000.00. Company insiders own 0.51% of the company’s stock.

Western Forest Products Company Profile

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.