Western Forest Products (TSE:WEF) Share Price Passes Above 200 Day Moving Average – What’s Next?

Shares of Western Forest Products Inc. (TSE:WEF) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$12.29 and traded as high as C$12.87. Western Forest Products shares last traded at C$12.83, with a volume of 28,549 shares.

Analyst Ratings Changes

WEF has been the topic of a number of recent analyst reports. Scotiabank boosted their target price on Western Forest Products to C$15.00 in a report on Friday, August 1st. Raymond James Financial boosted their target price on Western Forest Products to C$10.00 in a report on Friday, August 8th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$13.38.

Western Forest Products Trading Up 1.7%

The company has a debt-to-equity ratio of 19.61, a quick ratio of 0.73 and a current ratio of 3.04. The business has a fifty day simple moving average of C$12.46 and a 200 day simple moving average of C$12.29. The stock has a market capitalization of C$135.46 million, a price-to-earnings ratio of -5.72, a price-to-earnings-growth ratio of 0.32 and a beta of 0.78.

Insiders Place Their Bets

In other news, Director Elizabeth Kernaghan acquired 20,200 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were purchased at an average cost of C$12.23 per share, with a total value of C$247,046.00. Following the acquisition, the director directly owned 1,609,800 shares in the company, valued at C$19,687,854. This represents a 1.27% increase in their position. Also, insider Kernwood Limited acquired 35,433 shares of the firm’s stock in a transaction on Wednesday, June 25th. The stock was purchased 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 acquired 182,633 shares of company stock worth $2,206,051. Insiders own 0.67% of the company’s stock.

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.