Royal Bank of Canada lowered shares of Western Forest Products (TSE:WEF) from an outperform rating to a sector perform rating in a research report sent to investors on Wednesday, BayStreet.CA reports. They currently have C$1.50 target price on the stock, down from their prior target price of C$2.00.
Several other research analysts have also recently commented on the company. Scotiabank reissued an average rating and set a C$2.25 target price on shares of Western Forest Products in a research note on Monday, May 6th. Raymond James lowered their target price on Western Forest Products from C$2.20 to C$2.10 and set a market perform rating for the company in a research note on Friday, August 2nd. CIBC lowered their target price on Western Forest Products from C$1.75 to C$1.50 in a research note on Wednesday. Finally, TD Securities lowered their price objective on Western Forest Products from C$1.75 to C$1.50 and set a hold rating for the company in a research report on Tuesday. Five analysts have rated the stock with a hold rating, Western Forest Products presently has an average rating of Hold and an average price target of C$1.77.
WEF opened at C$1.24 on Wednesday. Western Forest Products has a 12 month low of C$1.22 and a 12 month high of C$2.42. The firm has a market cap of $465.35 million and a PE ratio of 21.75. The company has a debt-to-equity ratio of 25.87, a current ratio of 2.45 and a quick ratio of 0.76. The business’s fifty day moving average is C$1.49.
Western Forest Products Company Profile
Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers various products for outdoor living space, such as structures, decking, landscaping, and fencing; home components, including appearance, Japanese housing, and framing, as well as siding, paneling, trim, and soffits; and furniture, moldings, and decorative purpose, as well as doors, windows, and stair components.
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