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

Western Forest Products Inc. (TSE:WEF) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as C$10.89 and last traded at C$10.82, with a volume of 33704 shares. The stock had previously closed at C$11.12.

Analyst Upgrades and Downgrades

WEF has been the subject of a number of research analyst reports. Raymond James Financial raised their target price on Western Forest Products to C$10.00 in a report on Friday, August 8th. Scotiabank upped their target price on shares of Western Forest Products to C$15.00 in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Western Forest Products presently has a consensus rating of “Hold” and a consensus target price of C$13.38.

Western Forest Products Stock Performance

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 firm has a 50-day simple moving average of C$12.12 and a 200 day simple moving average of C$12.22. The company has a market cap of C$109.80 million, a price-to-earnings ratio of -1.69, a price-to-earnings-growth ratio of 0.32 and a beta of 0.71.

Western Forest Products (TSE:WEF) last announced its earnings results on Wednesday, November 5th. The company reported C($5.71) earnings per share (EPS) 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%. On average, sell-side analysts predict that Western Forest Products Inc. will post 0.004992 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Western Forest Products news, Director Elizabeth Kernaghan bought 20,200 shares of Western Forest Products stock in a transaction dated Monday, September 8th. The stock was acquired at an average cost of C$12.23 per share, with a total value of C$247,046.00. Following the completion of the acquisition, the director owned 1,609,800 shares of the company’s stock, valued at approximately C$19,687,854. This represents a 1.27% increase in their ownership of the stock. Also, insider Kernwood Limited bought 20,200 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were acquired at an average price of C$12.23 per share, with a total value of C$247,046.00. Following the purchase, the insider directly owned 1,609,800 shares of the company’s stock, valued at approximately C$19,687,854. This trade represents a 1.27% increase in their position. Over the last 90 days, insiders acquired 231,600 shares of company stock worth $2,781,996. 0.67% of the stock is currently owned by company insiders.

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.