Scotiabank Increases Western Forest Products (TSE:WEF) Price Target to C$18.00

Western Forest Products (TSE:WEF) had its target price upped by equities researchers at Scotiabank from C$12.50 to C$18.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 16.88% from the stock’s current price.

Western Forest Products Stock Performance

Shares of WEF stock opened at C$15.40 on Monday. The company has a current ratio of 3.04, a quick ratio of 0.73 and a debt-to-equity ratio of 19.61. The stock has a 50 day simple moving average of C$11.77 and a 200-day simple moving average of C$12.11. The company has a market cap of C$162.59 million, a price-to-earnings ratio of -2.50, a price-to-earnings-growth ratio of 0.32 and a beta of 1.04. Western Forest Products has a 12-month low of C$10.16 and a 12-month high of C$15.75.

Western Forest Products (TSE:WEF) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C($5.71) earnings per share for the quarter. Western Forest Products had a negative return on equity of 7.69% and a negative net margin of 4.21%.The business had revenue of C$233.00 million for the quarter. On average, equities analysts forecast that Western Forest Products will post 0.004992 EPS for the current year.

Insider Transactions at Western Forest Products

In related news, insider Kernwood Limited purchased 2,600 shares of Western Forest Products stock in a transaction dated Thursday, November 6th. The stock was bought at an average cost of C$11.55 per share, for a total transaction of C$30,030.00. Following the transaction, the insider owned 1,791,200 shares in the company, valued at approximately C$20,688,360. The trade was a 0.15% increase in their ownership of the stock. Also, Director Elizabeth Kernaghan purchased 2,600 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were purchased at an average cost of C$11.55 per share, for a total transaction of C$30,030.00. Following the purchase, the director directly owned 1,791,200 shares in the company, valued at approximately C$20,688,360. This represents a 0.15% increase in their ownership of the stock. In the last three months, insiders have purchased 73,200 shares of company stock worth $849,536. 0.67% of the stock is owned by 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. 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.