Western Forest Products (TSE:WEF) Hits New 1-Year High Following Analyst Upgrade

Western Forest Products Inc. (TSE:WEF)’s share price reached a new 52-week high on Wednesday after Raymond James Financial raised their price target on the stock from C$10.00 to C$12.00. Raymond James Financial currently has a market perform rating on the stock. Western Forest Products traded as high as C$17.22 and last traded at C$17.07, with a volume of 36648 shares traded. The stock had previously closed at C$16.77.

Separately, Scotiabank increased their target price on Western Forest Products from C$12.50 to C$18.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$14.63.

Western Forest Products Stock Performance

The company has a market cap of C$179.49 million, a PE ratio of -2.76, a P/E/G ratio of 0.32 and a beta of 1.02. The company has a current ratio of 3.04, a quick ratio of 0.73 and a debt-to-equity ratio of 19.61. The business has a fifty day moving average of C$12.39 and a 200-day moving average of C$12.26.

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

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.