Western Forest Products (OTCMKTS:WFSTF) Trading Down 3.2% – Here’s What Happened

Western Forest Products Inc. (OTCMKTS:WFSTF) traded down 3.2% during mid-day trading on Wednesday . The company traded as low as $11.71 and last traded at $12.0560. Approximately 6,535 shares traded hands during trading, a decline of 10% from the average session volume of 7,287 shares. The stock had previously closed at $12.45.

Analysts Set New Price Targets

Separately, Raymond James Financial restated a “market perform” rating on shares of Western Forest Products in a research report on Thursday, April 23rd. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Western Forest Products Price Performance

The stock has a 50 day simple moving average of $11.51 and a 200 day simple moving average of $10.49.

About Western Forest Products

Western Forest Products is a Canadian integrated forest products company headquartered in Vancouver, British Columbia. The company specializes in the harvesting, manufacturing and distribution of lumber and other wood products, operating a network of sawmills, remanufacturing facilities and log sort yards on both the British Columbia coast and Vancouver Island. Western Forest manages a diversified fibre portfolio that supports core lumber production as well as specialty lines.

The company’s product suite includes dimensional lumber, engineered wood products such as laminated veneer lumber (LVL), and value-added remanufactured items including mouldings and custom profiles.