Western Forest Products (TSE:WEF) Price Target Raised to C$20.00 at Raymond James Financial

Western Forest Products (TSE:WEF) had its price target hoisted by Raymond James Financial from C$12.50 to C$20.00 in a research report released on Monday,BayStreet.CA reports. Raymond James Financial currently has a market perform rating on the stock.

Other research analysts have also issued research reports about the stock. Royal Bank Of Canada raised their price objective on shares of Western Forest Products from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a report on Thursday, April 16th. TD boosted their target price on shares of Western Forest Products from C$17.00 to C$19.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$17.40.

Western Forest Products Price Performance

Shares of WEF opened at C$17.46 on Monday. Western Forest Products has a 12-month low of C$10.16 and a 12-month high of C$19.40. The business has a 50-day simple moving average of C$17.02 and a two-hundred day simple moving average of C$15.23. The company has a quick ratio of 0.73, a current ratio of 2.63 and a debt-to-equity ratio of 15.10. The stock has a market cap of C$184.34 million, a PE ratio of -1.63, a PEG ratio of 0.32 and a beta of 0.22.

Western Forest Products (TSE:WEF) last posted its earnings results on Wednesday, May 6th. The company reported C($1.83) EPS for the quarter. Western Forest Products had a negative net margin of 12.23% and a negative return on equity of 22.88%. The firm had revenue of C$201.50 million during the quarter. Analysts anticipate that Western Forest Products will post 0.004992 earnings per share for the current fiscal year.

Insider Transactions at Western Forest Products

In other news, insider Kernwood Limited sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of C$19.05, for a total transaction of C$34,290.00. Following the completion of the transaction, the insider directly owned 1,889,000 shares in the company, valued at C$35,985,450. This trade represents a 0.10% decrease in their ownership of the stock. Also, Director Elizabeth Kernaghan sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of C$19.05, for a total value of C$34,290.00. Following the transaction, the director owned 1,889,000 shares of the company’s stock, valued at C$35,985,450. This trade represents a 0.10% decrease in their ownership of the stock. Insiders sold a total of 14,200 shares of company stock worth $270,980 in 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.