Western Forest Products Inc (WEF) Lowered to Neutral at CIBC
Western Forest Products Inc (TSE:WEF) was downgraded by equities research analysts at CIBC from an “outperform” rating to a “neutral” rating in a report issued on Monday.
A number of other equities analysts have also issued reports on WEF. Raymond James Financial, Inc. raised their target price on Western Forest Products from C$2.75 to C$3.10 and gave the stock a “strong-buy” rating in a research note on Thursday, August 3rd. Scotiabank raised their target price on Western Forest Products from C$2.45 to C$2.55 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Finally, TD Securities raised their target price on Western Forest Products from C$2.75 to C$3.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Western Forest Products presently has a consensus rating of “Buy” and an average target price of C$2.73.
Shares of Western Forest Products (TSE:WEF) traded down 4.107% during mid-day trading on Monday, hitting $2.685. The company had a trading volume of 746,426 shares. Western Forest Products has a 1-year low of $1.79 and a 1-year high of $2.84. The company has a market capitalization of $1.06 billion and a price-to-earnings ratio of 11.188. The company has a 50-day moving average price of $2.62 and a 200-day moving average price of $2.32.
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Western Forest Products Company Profile
Western Forest Products Inc is a softwood forest products company, operating in the coastal region of British Columbia. The Company’s primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and lumber remanufacturing. The Company’s log and lumber products are sold throughout the world.
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