Western Forest Products Inc (TSE:WEF) was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday. They currently have a C$2.25 target price on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 7.14% from the company’s previous close.
A number of other equities research analysts have also issued reports on the company. CIBC increased their target price on Western Forest Products from C$1.85 to C$2.00 in a research note on Thursday, February 23rd. TD Securities reissued a “buy” rating and issued a C$2.50 price target on shares of Western Forest Products in a report on Tuesday, February 21st. Raymond James Financial, Inc. reissued an “outperform” rating and issued a C$2.50 price target on shares of Western Forest Products in a report on Friday, February 17th. Finally, Scotiabank reissued an “outperform” rating and issued a C$2.50 price target on shares of Western Forest Products in a report on Friday, February 17th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$2.35.
Western Forest Products (TSE:WEF) opened at 2.10 on Wednesday. The firm has a 50-day moving average price of $2.13 and a 200 day moving average price of $2.00. The firm has a market capitalization of $830.44 million and a P/E ratio of 8.82. Western Forest Products has a 52-week low of $1.79 and a 52-week high of $2.35.
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In other news, Director Barrie Shineton bought 45,000 shares of Western Forest Products stock in a transaction on Friday, February 24th. The shares were bought at an average price of C$2.14 per share, with a total value of C$96,300.00.
About Western Forest Products
Western Forest Products Inc is a softwood forest products company, operating in the coastal region of British Columbia. The Company’s primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and lumber remanufacturing. The Company’s log and lumber products are sold throughout the world.
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