Western Forest Products (TSE:WEF) Reaches New 52-Week Low at $0.55

Shares of Western Forest Products Inc. (TSE:WEF) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$0.55 and last traded at C$0.56, with a volume of 344560 shares trading hands. The stock had previously closed at C$0.55.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WEF. TD Securities reduced their target price on shares of Western Forest Products from C$0.75 to C$0.65 and set a “hold” rating for the company in a report on Tuesday, April 16th. CIBC cut their price objective on Western Forest Products from C$0.75 to C$0.65 and set a “neutral” rating on the stock in a report on Thursday, February 15th. Finally, Scotiabank set a C$0.80 target price on shares of Western Forest Products and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$0.73.

Western Forest Products Trading Up 1.8 %

The firm has a market cap of C$177.38 million, a PE ratio of -2.50, a price-to-earnings-growth ratio of 0.32 and a beta of 1.93. The company has a 50-day simple moving average of C$0.61 and a 200 day simple moving average of C$0.67. The company has a current ratio of 2.77, a quick ratio of 0.73 and a debt-to-equity ratio of 18.42.

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

Insiders Place Their Bets

In related news, Senior Officer Joseph Steven Hofer purchased 100,000 shares of Western Forest Products stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased 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 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.