CanWel Building Materials Group (TSE:CWX) had its price objective lowered by investment analysts at CIBC from C$5.50 to C$4.50 in a report issued on Monday, BayStreet.CA reports. CIBC’s target price would indicate a potential downside of 1.53% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on CWX. National Bank Financial restated an “outperform” rating and set a C$7.00 price objective on shares of CanWel Building Materials Group in a research note on Friday, January 18th. Raymond James cut CanWel Building Materials Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$6.50 to C$4.80 in a research note on Friday, February 15th. Finally, Canaccord Genuity decreased their price objective on CanWel Building Materials Group from C$4.80 to C$4.25 in a research note on Friday, May 10th.
Shares of TSE CWX opened at C$4.57 on Monday. The company has a debt-to-equity ratio of 139.24, a current ratio of 2.96 and a quick ratio of 1.06. The firm has a market cap of $345.97 million and a P/E ratio of 15.34. CanWel Building Materials Group has a 1-year low of C$4.19 and a 1-year high of C$7.44.
In related news, Director Harry Rosenfeld acquired 17,762 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average cost of C$4.32 per share, for a total transaction of C$76,731.84. Following the purchase, the director now directly owns 54,555 shares of the company’s stock, valued at approximately C$235,677.60.
CanWel Building Materials Group Company Profile
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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