Western Forest Products (TSE:WEF) Sets New 12-Month High – Should You Buy?

Shares of Western Forest Products Inc. (TSE:WEF) reached a new 52-week high during trading on Tuesday . The company traded as high as C$16.12 and last traded at C$16.55, with a volume of 21490 shares trading hands. The stock had previously closed at C$16.25.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Raymond James Financial boosted their target price on Western Forest Products from C$10.00 to C$12.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 4th. Scotiabank upped their target price on shares of Western Forest Products from C$12.50 to C$18.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$14.63.

Western Forest Products Stock Up 2.4%

The company has a debt-to-equity ratio of 19.61, a current ratio of 3.04 and a quick ratio of 0.73. The company has a market cap of C$175.69 million, a P/E ratio of -2.70, a PEG ratio of 0.32 and a beta of 1.02. The business’s 50 day moving average price is C$12.66 and its 200-day moving average price is C$12.35.

Western Forest Products (TSE:WEF) last posted its quarterly earnings results on Wednesday, November 5th. The company reported C($5.71) earnings per share (EPS) for the quarter. Western Forest Products had a negative net margin of 4.21% and a negative return on equity of 7.69%. The firm had revenue of C$233.00 million during the quarter. On average, analysts anticipate that Western Forest Products Inc. will post 0.004992 earnings per share for the current fiscal year.

About Western Forest Products

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales. The firm purchases and harvests logs which are then manufactured into lumber products at its sawmills, or sold. Canada and the United States, represent the company’s largest markets and contribute the vast majority of its total revenue.