Western Forest Products (TSE:WEF) Reaches New 1-Year High – What’s Next?

Western Forest Products Inc. (TSE:WEF)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$16.12 and last traded at C$16.55, with a volume of 21490 shares trading hands. The stock had previously closed at C$16.25.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WEF shares. Raymond James Financial lifted their target price on shares of Western Forest Products from C$10.00 to C$12.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 4th. Scotiabank boosted 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 research note on Monday, January 26th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$14.63.

Western Forest Products Stock Performance

The stock has a market capitalization of C$175.69 million, a PE ratio of -2.70, a price-to-earnings-growth ratio of 0.32 and a beta of 1.02. The company has a quick ratio of 0.73, a current ratio of 3.04 and a debt-to-equity ratio of 19.61. The business’s fifty day moving average is C$12.66 and its two-hundred day moving average is C$12.35.

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

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.