Western Forest Products (TSE:WEF) Share Price Breaks Above 200 Day Moving Average – Time to Sell?

Shares of Western Forest Products Inc. (TSE:WEF) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$16.04 and traded as high as C$16.37. Western Forest Products shares last traded at C$16.37, with a volume of 33,899 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WEF. Royal Bank Of Canada lifted their price target on shares of Western Forest Products from C$16.00 to C$18.00 and gave the company a “sector perform” rating in a research report on Friday, August 14th. Raymond James Financial upped their price objective on shares of Western Forest Products from C$12.50 to C$20.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Finally, TD lowered their target price on shares of Western Forest Products from C$20.00 to C$17.00 and set a “hold” rating on the stock in a research note on Wednesday, October 14th. Five investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, Western Forest Products presently has a consensus rating of “Hold” and an average price target of C$17.80.

Western Forest Products Trading Up 6.9%

The company has a quick ratio of 0.73, a current ratio of 2.44 and a debt-to-equity ratio of 12.63. The company has a 50-day moving average price of C$16.68 and a 200-day moving average price of C$16.04. The company has a market capitalization of C$172.83 million, a price-to-earnings ratio of -2.05, a P/E/G ratio of 0.32 and a beta of -0.06.

Western Forest Products (TSE:WEF) last posted its quarterly earnings data on Wednesday, August 12th. The company reported C$1.10 earnings per share for the quarter. Western Forest Products had a negative return on equity of 17.78% and a negative net margin of 9.64%. The business had revenue of C$239.60 million during the quarter. Research analysts predict that Western Forest Products Inc. will post 0.00 EPS for the current fiscal year.

Western Forest Products Company Profile

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity of 785 million board feet from five sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing facilities.