Western Forest Products (TSE:WEF) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Shares of Western Forest Products Inc. (TSE:WEF) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$14.24 and traded as high as C$18.68. Western Forest Products shares last traded at C$18.55, with a volume of 26,322 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WEF shares. TD increased their price objective on Western Forest Products from C$16.00 to C$17.00 and gave the company a “hold” rating in a research report on Thursday, April 16th. Royal Bank Of Canada lifted their price objective on Western Forest Products from C$13.00 to C$14.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 16th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$15.70.

Western Forest Products Trading Down 0.2%

The company has a debt-to-equity ratio of 15.10, a current ratio of 2.63 and a quick ratio of 0.73. The business has a 50 day moving average of C$15.74 and a 200 day moving average of C$14.24. The firm has a market capitalization of C$195.85 million, a price-to-earnings ratio of -1.73, a PEG ratio of 0.32 and a beta of 0.27.

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

Insider Transactions at Western Forest Products

In other Western Forest Products news, insider Kernwood Limited sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of C$19.00, for a total value of C$51,300.00. Following the completion of the sale, the insider owned 1,900,800 shares of the company’s stock, valued at approximately C$36,115,200. This represents a 0.14% decrease in their ownership of the stock. Insiders have sold a total of 10,600 shares of company stock worth $202,400 in the last ninety days. 0.67% of the stock is currently 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.