Shares of Western Forest Products Inc. (TSE:WEF – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$0.55 and last traded at C$0.56, with a volume of 344560 shares. The stock had previously closed at C$0.55.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Scotiabank set a C$0.80 price target on Western Forest Products and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. CIBC reduced 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, TD Securities lowered their price target on Western Forest Products from C$0.75 to C$0.65 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$0.73.
Get Our Latest Research Report on WEF
Western Forest Products Stock Performance
Western Forest Products (TSE:WEF – Get Free Report) last released its earnings results on Tuesday, February 13th. The company reported C($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.01. The firm 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%. Research analysts expect that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.
Insider Activity at Western Forest Products
In other news, Senior Officer Joseph Steven Hofer bought 100,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of C$0.63 per share, for a total transaction of C$63,000.00. 0.51% of the stock is currently 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.
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