CanWel Building Materials Group (TSE:CWX) Price Target Raised to C$5.00

CanWel Building Materials Group (TSE:CWX) had its price objective lifted by equities researchers at CIBC from C$4.50 to C$5.00 in a report released on Tuesday, BayStreet.CA reports. CIBC’s target price points to a potential downside of 2.91% from the stock’s current price.

CWX has been the subject of several other research reports. National Bank Financial cut their target price on CanWel Building Materials Group from C$4.50 to C$3.75 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Canaccord Genuity cut their target price on CanWel Building Materials Group from C$4.25 to C$4.00 in a research note on Tuesday, August 6th. Finally, Raymond James reaffirmed an “outperform” rating and issued a C$5.50 target price on shares of CanWel Building Materials Group in a research note on Monday.

CWX traded up C$0.01 during midday trading on Tuesday, hitting C$5.15. The stock had a trading volume of 121,617 shares, compared to its average volume of 137,146. The company has a market cap of $401.66 million and a P/E ratio of 28.14. The business has a fifty day moving average of C$4.55 and a 200 day moving average of C$4.64. The company has a debt-to-equity ratio of 120.59, a quick ratio of 0.94 and a current ratio of 2.57. CanWel Building Materials Group has a 1 year low of C$4.19 and a 1 year high of C$5.42.

In other news, Director Marc Seguin bought 39,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of C$4.34 per share, with a total value of C$169,260.00. Following the completion of the purchase, the director now directly owns 178,668 shares in the company, valued at C$775,419.12.

About CanWel Building Materials Group

CanWel Building Materials Group Ltd., through its subsidiaries, distributes building materials and home renovation products in Canada, Hawaii, and the Western United States. It operates through two segments, Building Materials Distribution and Forestry. The company sells decking and railing; engineered wood products; fasteners and adhesives; foundation; insulation and building envelope; interior finishing; lumber, plywood, OSB, and specialty industrial products; roofing and accessories; treated wood; exterior trim and décor products; welded panels; profiles and colors; fusion stones; exterior products; sidings, panels, shingles, and trims; and security and door ware products.

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