Western Forest Products (TSE:WEF) Given New C$2.00 Price Target at Royal Bank of Canada

Western Forest Products (TSE:WEF) had its target price decreased by Royal Bank of Canada from C$2.25 to C$2.00 in a report released on Tuesday morning, BayStreet.CA reports.

Several other equities research analysts have also weighed in on the stock. CIBC reiterated a hold rating on shares of Just Energy Group in a report on Friday, June 7th. TD Securities lowered shares of Western Forest Products from a buy rating to a hold rating and cut their target price for the stock from C$2.25 to C$2.00 in a report on Wednesday, April 17th. Scotiabank reiterated an average rating and issued a C$2.25 target price on shares of Western Forest Products in a report on Monday, May 6th. Finally, Raymond James reiterated a buy rating and issued a $21.00 target price on shares of Colfax in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of C$2.06.

Shares of WEF stock opened at C$1.48 on Tuesday. The firm has a 50 day simple moving average of C$1.60. The company has a current ratio of 2.36, a quick ratio of 0.75 and a debt-to-equity ratio of 17.98. The company has a market capitalization of $558.87 million and a PE ratio of 11.65. Western Forest Products has a 52-week low of C$1.44 and a 52-week high of C$2.67.

In other news, Senior Officer Shannon Janzen bought 15,200 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of C$1.66 per share, for a total transaction of C$25,232.00. Following the completion of the acquisition, the insider now owns 58,200 shares in the company, valued at approximately C$96,612.

About Western Forest Products

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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Analyst Recommendations for Western Forest Products (TSE:WEF)

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