Shares of Western Forest Products Inc. (TSE:WEF – Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as C$0.55 and last traded at C$0.56, with a volume of 344560 shares traded. The stock had previously closed at C$0.55.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on WEF shares. CIBC decreased their price objective 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 report on Thursday, February 15th. TD Securities cut their target price on 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, April 16th. Finally, Scotiabank set a C$0.80 target price on Western Forest Products and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$0.73.
Check Out Our Latest Report on WEF
Western Forest Products Price Performance
Western Forest Products (TSE:WEF – Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported C($0.04) EPS for the quarter, beating the consensus estimate of C($0.05) by C$0.01. The company 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%. On average, analysts expect that Western Forest Products Inc. will post 0.004992 EPS for the current year.
Insiders Place Their Bets
In related news, Senior Officer Joseph Steven Hofer acquired 100,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost of C$0.63 per share, with a total value of C$63,000.00. 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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