Western Forest Products (TSE:WEF) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Western Forest Products Inc. (TSE:WEF)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$16.13 and traded as high as C$16.85. Western Forest Products shares last traded at C$16.81, with a volume of 20,048 shares.

Analyst Ratings Changes

WEF has been the topic of a number of analyst reports. Royal Bank Of Canada boosted their price objective on shares of Western Forest Products from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a research report on Thursday, April 16th. TD raised their price objective on 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. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$15.70.

Western Forest Products Price Performance

The firm has a market cap of C$177.48 million, a PE ratio of -1.57, a price-to-earnings-growth ratio of 0.32 and a beta of 0.22. The company has a quick ratio of 0.73, a current ratio of 2.63 and a debt-to-equity ratio of 15.10. The stock has a 50 day moving average price of C$16.13 and a two-hundred day moving average price of C$14.58.

Western Forest Products (TSE:WEF) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C($1.83) earnings per share (EPS) 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. As a group, equities analysts expect that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.

Insiders Place Their Bets

In other Western Forest Products news, insider Kernwood Limited sold 2,700 shares of the firm’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 transaction of C$51,300.00. Following the completion of the transaction, the insider directly owned 1,900,800 shares of the company’s stock, valued at approximately C$36,115,200. This trade represents a 0.14% decrease in their position. In the last 90 days, insiders have sold 10,600 shares of company stock valued at $202,400. 0.67% of the stock is currently owned by corporate 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.