Western Forest Products (TSE:WEF) Given New C$18.00 Price Target at Scotiabank

Western Forest Products (TSE:WEF) had its price target increased by Scotiabank from C$12.50 to C$18.00 in a report issued on Monday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Western Forest Products Price Performance

TSE WEF opened at C$15.64 on Monday. Western Forest Products has a 12 month low of C$10.16 and a 12 month high of C$15.67. The firm has a market capitalization of C$165.13 million, a PE ratio of -2.53, a P/E/G ratio of 0.32 and a beta of 1.04. The company’s 50 day simple moving average is C$11.67 and its 200 day simple moving average is C$12.08. The company has a debt-to-equity ratio of 19.61, a current ratio of 3.04 and a quick ratio of 0.73.

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

Insider Activity at Western Forest Products

In other Western Forest Products news, insider Kernwood Limited bought 9,600 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of C$11.70 per share, for a total transaction of C$112,320.00. Following the acquisition, the insider directly owned 1,770,900 shares of the company’s stock, valued at C$20,719,530. This trade represents a 0.55% increase in their ownership of the stock. Also, Director Elizabeth Kernaghan bought 9,600 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of C$11.70 per share, with a total value of C$112,320.00. Following the completion of the purchase, the director owned 1,770,900 shares of the company’s stock, valued at approximately C$20,719,530. The trade was a 0.55% increase in their ownership of the stock. Insiders bought a total of 73,200 shares of company stock worth $849,536 in the last ninety days. Corporate insiders own 0.67% of the company’s stock.

Western Forest Products Company Profile

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.