Western Forest Products (TSE:WEF) Stock Crosses Above 200 Day Moving Average – What’s Next?

Western Forest Products Inc. (TSE:WEF)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$13.32 and traded as high as C$16.25. Western Forest Products shares last traded at C$15.72, with a volume of 42,591 shares.

Analyst Ratings Changes

WEF has been the subject of several analyst reports. Royal Bank Of Canada raised their target price on shares of Western Forest Products from C$13.00 to C$14.00 and gave the stock a “sector perform” rating in a report on Thursday, April 16th. TD raised their target price on shares of Western Forest Products from C$16.00 to C$17.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. Raymond James Financial lifted their price objective on shares of Western Forest Products from C$12.00 to C$13.50 and gave the company a “market perform” rating in a report on Friday, February 20th. Finally, TD Securities lifted their price objective on shares of Western Forest Products from C$14.00 to C$16.00 and gave the company a “hold” rating in a report on Thursday, February 12th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$15.70.

Western Forest Products Stock Down 1.8%

The business’s fifty day moving average is C$14.37 and its two-hundred day moving average is C$13.32. The company has a market cap of C$165.97 million, a P/E ratio of -1.47, a price-to-earnings-growth ratio of 0.32 and a beta of 0.24. The company has a debt-to-equity ratio of 15.10, a quick ratio of 0.73 and a current ratio of 2.63.

Western Forest Products (TSE:WEF) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C($1.83) earnings per share for the quarter. Western Forest Products had a negative net margin of 12.23% and a negative return on equity of 22.88%. The company had revenue of C$201.50 million for the quarter. Equities analysts predict that Western Forest Products Inc. will post 0.004992 EPS for the current year.

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.