Shares of Western Forest Products Inc. (TSE:WEF – Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$0.55 and last traded at C$0.55, with a volume of 279560 shares trading hands. The stock had previously closed at C$0.56.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on WEF. Scotiabank set a C$0.80 target price on Western Forest Products and gave the company a “sector perform” rating in a report on Monday, January 22nd. TD Securities lowered their price objective on shares of Western Forest Products from C$0.75 to C$0.65 and set a “hold” rating for the company in a research note on Tuesday. Finally, CIBC cut their target price on shares of Western Forest Products from C$0.75 to C$0.65 and set a “neutral” rating on the stock in a research note on Thursday, February 15th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$0.73.
Check Out Our Latest Research Report on WEF
Western Forest Products Price Performance
Western Forest Products (TSE:WEF – Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported C($0.04) earnings per share for the quarter, beating the consensus estimate of C($0.05) by C$0.01. Western Forest Products had a negative net margin of 6.73% and a negative return on equity of 11.50%. The firm had revenue of C$246.60 million for the quarter. Research analysts forecast that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.
Insider Transactions at Western Forest Products
In other Western Forest Products news, Senior Officer Joseph Steven Hofer bought 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of C$0.63 per share, with a total value of C$63,000.00. Corporate insiders own 0.51% of the company’s stock.
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.
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