Western Forest Products (TSE:WEF – Get Free Report) had its target price reduced by TD Securities from C$0.75 to C$0.65 in a report released on Tuesday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ price target indicates a potential upside of 16.07% from the company’s current price.
WEF has been the subject of a number of other research reports. Scotiabank set a C$0.80 target price on Western Forest Products and gave the stock a “sector perform” rating in a report on Monday, January 22nd. CIBC dropped their target price on Western Forest Products from C$0.75 to C$0.65 and set a “neutral” rating for the company in a report on Thursday, February 15th. Finally, Royal Bank of Canada dropped their target price on Western Forest Products from C$1.00 to C$0.80 and set a “sector perform” rating for the company in a report on Tuesday, December 19th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$0.73.
Western Forest Products Price Performance
Western Forest Products (TSE:WEF – Get Free Report) last released its quarterly 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. The business had revenue of C$246.60 million during the quarter. Western Forest Products had a negative return on equity of 11.50% and a negative net margin of 6.73%. As a group, analysts predict that Western Forest Products will post 0.004992 EPS for the current year.
Insider Buying and Selling
In other Western Forest Products news, Senior Officer Joseph Steven Hofer purchased 100,000 shares of the firm’s 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 corporate 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.
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