Western Forest Products (TSE:WEF) Given New C$12.00 Price Target at Raymond James Financial

Western Forest Products (TSE:WEF) had its price objective hoisted by Raymond James Financial from C$10.00 to C$12.00 in a report released on Wednesday morning,BayStreet.CA reports. The brokerage currently has a market perform rating on the stock.

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

Western Forest Products Stock Performance

Shares of Western Forest Products stock opened at C$17.00 on Wednesday. The firm’s fifty day simple moving average is C$12.39 and its 200-day simple moving average is C$12.26. Western Forest Products has a 12 month low of C$10.16 and a 12 month high of C$17.28. The stock has a market capitalization of C$179.49 million, a price-to-earnings ratio of -2.76, a PEG ratio of 0.32 and a beta of 1.02. 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 for the quarter. The business 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, equities analysts forecast that Western Forest Products will post 0.004992 earnings per share for the current 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.