CIBC reiterated their buy rating on shares of Western Forest Products (TSE:WEF) in a research note published on Tuesday, Analyst Ratings Network reports. The brokerage currently has a C$2.60 price target on the stock.
Several other brokerages also recently commented on WEF. Raymond James reissued an outperform rating and set a C$3.00 price objective on shares of Western Forest Products in a research report on Friday, August 6th. TD Securities restated a buy rating on shares of Western Forest Products in a research note on Wednesday, September 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of C$2.67.
Shares of WEF stock opened at C$2.20 on Tuesday. Western Forest Products has a one year low of C$0.84 and a one year high of C$2.58. The company’s 50-day moving average is C$2.04 and its 200 day moving average is C$2.04. The company has a market capitalization of C$780.23 million and a price-to-earnings ratio of 4.68. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.05 and a current ratio of 2.26.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, September 17th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Thursday, August 26th. Western Forest Products’s dividend payout ratio (DPR) is presently 4.26%.
In other news, Senior Officer Donald Eugene Demens sold 60,000 shares of the stock in a transaction that occurred on Tuesday, September 14th. The shares were sold at an average price of C$2.11, for a total value of C$126,600.00. Following the transaction, the insider now owns 1,468,611 shares in the company, valued at approximately C$3,098,769.21. Insiders sold a total of 193,211 shares of company stock worth $397,473 in the last quarter.
About Western Forest Products
Western Forest Products Inc operates as an integrated softwood forest products company. It is involved in the timber harvesting, sawmilling logs into specialty lumber, value-added lumber remanufacturing, and lumber purchasing and wholesaling. The company offers various products for outdoor living space, such as structures, decking, landscaping, and fencing; home components, including appearance and structural timbers, 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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