Western Forest Products (TSE:WEF) Shares Cross Below 200 Day Moving Average – What’s Next?

Western Forest Products Inc. (TSE:WEF) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$11.94 and traded as low as C$10.89. Western Forest Products shares last traded at C$11.40, with a volume of 34,906 shares traded.

Western Forest Products Trading Up 3.7%

The business has a 50-day moving average of C$11.15 and a 200-day moving average of C$11.94. 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 stock has a market cap of C$120.36 million, a price-to-earnings ratio of -1.85, a PEG ratio of 0.32 and a beta of 0.80.

Western Forest Products (TSE:WEF) last posted its quarterly earnings results on Wednesday, November 5th. The company reported C($5.71) earnings per share for the quarter. The firm had revenue of C$233.00 million for the quarter. Western Forest Products had a negative return on equity of 7.69% and a negative net margin of 4.21%. As a group, research analysts forecast that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.

Insider Buying and Selling

In other Western Forest Products news, Director Elizabeth Kernaghan purchased 2,600 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were acquired at an average price of C$11.55 per share, for a total transaction of C$30,030.00. Following the acquisition, the director owned 1,791,200 shares of the company’s stock, valued at C$20,688,360. This trade represents a 0.15% increase in their ownership of the stock. Also, insider Kernwood Limited acquired 2,600 shares of Western Forest Products stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average cost of C$11.55 per share, with a total value of C$30,030.00. Following the purchase, the insider owned 1,791,200 shares in the company, valued at C$20,688,360. The trade was a 0.15% increase in their position. Insiders acquired 84,400 shares of company stock valued at $985,196 over the last quarter. Corporate 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. 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.