Western Forest Products (TSE:WEF) Stock Passes Below 200 Day Moving Average – Time to Sell?

Western Forest Products Inc. (TSE:WEF)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$12.13 and traded as low as C$11.21. Western Forest Products shares last traded at C$11.23, with a volume of 45,713 shares trading hands.

Analysts Set New Price Targets

Separately, Raymond James Financial boosted their price target on shares of Western Forest Products to C$10.00 in a report on Friday, August 8th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$13.38.

Western Forest Products Stock Down 4.3%

The firm has a market cap of C$118.57 million, a price-to-earnings ratio of -1.82, a PEG ratio of 0.32 and a beta of 0.71. The business has a fifty day simple moving average of C$11.75 and a 200 day simple moving average of C$12.13. The company has a debt-to-equity ratio of 19.61, a current ratio of 3.04 and a quick ratio of 0.73.

Western Forest Products (TSE:WEF) last issued 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 firm had revenue of C$233.00 million for the quarter. As a group, equities analysts forecast that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.

Insiders Place Their Bets

In other Western Forest Products news, insider Kernwood Limited bought 2,600 shares of Western Forest Products stock in a transaction dated Thursday, November 6th. The stock was acquired at an average cost of C$11.55 per share, for a total transaction of C$30,030.00. Following the completion of the transaction, the insider directly owned 1,791,200 shares of the company’s stock, valued at approximately C$20,688,360. This represents a 0.15% increase in their ownership of the stock. Also, Director Elizabeth Kernaghan purchased 2,600 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average price of C$11.55 per share, for a total transaction of C$30,030.00. Following the completion of the transaction, the director directly owned 1,791,200 shares of the company’s stock, valued at C$20,688,360. The trade was a 0.15% increase in their position. Insiders have bought 231,600 shares of company stock valued at $2,781,996 in the last ninety days. Insiders own 0.67% of the company’s stock.

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.