TD Securities Cuts Western Forest Products (TSE:WEF) Price Target to C$0.65

Western Forest Products (TSE:WEF) had its price objective lowered by TD Securities from C$0.75 to C$0.65 in a report issued on Tuesday morning, BayStreet.CA reports. The firm currently has a hold rating on the stock.

Other analysts also recently issued reports about the company. CIBC lowered their price objective on Western Forest Products from C$0.75 to C$0.65 and set a neutral rating for the company in a research note on Thursday, February 15th. Scotiabank set a C$0.80 price objective on Western Forest Products and gave the stock a sector perform rating in a research note on Monday, January 22nd. Finally, Royal Bank of Canada lowered their price objective on Western Forest Products from C$1.00 to C$0.80 and set a sector perform rating for the company in a research note on Tuesday, December 19th. Five 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 a consensus price target of C$0.73.

Western Forest Products Price Performance

Shares of TSE:WEF opened at C$0.56 on Tuesday. The business’s 50 day simple moving average is C$0.61 and its two-hundred day simple moving average is C$0.68. The firm has a market cap of C$177.38 million, a P/E ratio of -2.55, a PEG ratio of 0.32 and a beta of 1.93. The company has a debt-to-equity ratio of 18.42, a quick ratio of 0.73 and a current ratio of 2.77. Western Forest Products has a 52-week low of C$0.55 and a 52-week high of C$1.14.

Western Forest Products (TSE:WEF) last announced its quarterly earnings results on Tuesday, February 13th. The company reported C($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.05) by C$0.01. The business had revenue of C$246.60 million for the quarter. Western Forest Products had a negative return on equity of 11.50% and a negative net margin of 6.73%. As a group, research analysts forecast that Western Forest Products will post 0.004992 EPS for the current fiscal year.

Insider Activity at Western Forest Products

In other Western Forest Products news, Senior Officer Joseph Steven Hofer purchased 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average cost of C$0.63 per share, with a total value of C$63,000.00. 0.51% of the stock is currently owned by company insiders.

About Western Forest Products

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.