Western Forest Products (TSE:WEF) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Western Forest Products Inc. (TSE:WEF)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$13.32 and traded as high as C$16.25. Western Forest Products shares last traded at C$15.72, with a volume of 42,591 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WEF. TD increased their price target on Western Forest Products from C$16.00 to C$17.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Royal Bank Of Canada increased their price target on 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 Securities increased their price target on Western Forest Products from C$14.00 to C$16.00 and gave the company a “hold” rating in a report on Thursday, February 12th. Finally, Raymond James Financial increased their price target on Western Forest Products from C$12.00 to C$13.50 and gave the company a “market perform” rating in a report on Friday, February 20th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, Western Forest Products currently has an average rating of “Hold” and a consensus target price of C$15.70.

Western Forest Products Stock Performance

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 business has a 50 day simple moving average of C$14.44 and a two-hundred day simple moving average of C$13.34. The firm has a market cap of C$167.45 million, a PE ratio of -1.48, a price-to-earnings-growth ratio of 0.32 and a beta of 0.24.

Western Forest Products (TSE:WEF) last released its earnings results on Wednesday, May 6th. The company reported C($1.83) earnings per share for the quarter. Western Forest Products had a negative return on equity of 22.88% and a negative net margin of 12.23%.The business had revenue of C$201.50 million during the quarter. As a group, equities research analysts forecast 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.