Western Forest Products Inc (TSE:WEF) had its price target raised by Scotiabank from C$2.45 to C$2.55 in a research note issued on Thursday. The brokerage presently has an “outperform” rating on the stock.
Several other research firms also recently weighed in on WEF. Raymond James Financial, Inc. raised their price target on shares of Western Forest Products from C$2.75 to C$3.10 and gave the stock a “strong-buy” rating in a research note on Thursday. TD Securities reissued a “buy” rating and issued a C$2.75 price target on shares of Western Forest Products in a research note on Friday, May 5th. CIBC lifted their target price on shares of Western Forest Products from C$2.25 to C$2.50 in a research note on Wednesday, May 10th. Finally, Royal Bank Of Canada downgraded shares of Western Forest Products from an “outperform” rating to a “sector perform” rating and set a C$2.25 target price on the stock. in a research note on Wednesday, April 19th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Western Forest Products has an average rating of “Buy” and a consensus price target of C$2.68.
Shares of Western Forest Products (TSE:WEF) traded up 0.39% during mid-day trading on Thursday, hitting $2.56. 722,658 shares of the stock traded hands. The firm has a 50 day moving average of $2.38 and a 200 day moving average of $2.17. The company has a market cap of $1.01 billion and a P/E ratio of 10.89. Western Forest Products has a 12 month low of $1.79 and a 12 month high of $2.58.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://stocknewstimes.com/2017/08/03/western-forest-products-inc-tsewef-price-target-raised-to-c2-55.html.
In related news, Director Michael T. Waites purchased 20,000 shares of Western Forest Products stock in a transaction dated Tuesday, May 9th. The shares were acquired at an average cost of C$2.14 per share, with a total value of C$42,800.00. Also, insider Stephen D.A. Williams purchased 18,100 shares of Western Forest Products stock in a transaction dated Tuesday, May 16th. The stock was bought at an average cost of C$2.19 per share, for a total transaction of C$39,639.00. Insiders bought a total of 243,100 shares of company stock worth $528,079 over the last three months.
Western Forest Products Company Profile
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.
Receive News & Ratings for Western Forest Products Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Forest Products Inc and related companies with MarketBeat.com's FREE daily email newsletter.
