Western Forest Products (TSE:WEF) had its price objective dropped by analysts at Royal Bank of Canada from C$2.25 to C$2.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price target indicates a potential upside of 33.33% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the company. TD Securities cut Western Forest Products from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$2.25 to C$2.00 in a research report on Wednesday, April 17th. Scotiabank reissued an “average” rating and issued a C$2.25 price objective on shares of Western Forest Products in a research report on Monday, May 6th. CIBC reissued a “hold” rating on shares of Just Energy Group in a research report on Friday, June 7th. Finally, Raymond James reissued a “buy” rating and issued a $21.00 price objective on shares of Colfax in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of C$2.06.
Shares of WEF traded down C$0.01 during mid-day trading on Tuesday, hitting C$1.50. The company’s stock had a trading volume of 280,860 shares, compared to its average volume of 692,928. Western Forest Products has a one year low of C$1.50 and a one year high of C$2.67. The company has a debt-to-equity ratio of 17.98, a current ratio of 2.36 and a quick ratio of 0.75. The firm has a market capitalization of $577.88 million and a price-to-earnings ratio of 11.89. The business has a 50-day moving average of C$1.60.
In other news, Senior Officer Shannon Janzen bought 15,200 shares of Western Forest Products stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average cost of C$1.66 per share, with a total value of C$25,232.00. Following the completion of the transaction, the insider now directly owns 58,200 shares in the company, valued at C$96,612.
About Western Forest Products
Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers various products for outdoor living space, such as structures, decking, landscaping, and fencing; home components, including appearance, Japanese housing, and framing, as well as siding, paneling, trim, and soffits; and furniture, moldings, and decorative purpose, as well as doors, windows, and stair components.
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