Joseph Steven Hofer Acquires 100,000 Shares of Western Forest Products Inc. (TSE:WEF) Stock

Western Forest Products Inc. (TSE:WEFGet Free Report) Senior Officer Joseph Steven Hofer bought 100,000 shares of Western Forest Products stock in a transaction dated Wednesday, March 6th. The shares were bought at an average cost of C$0.63 per share, for a total transaction of C$63,000.00.

Western Forest Products Price Performance

Shares of TSE WEF opened at C$0.59 on Friday. The company has a current ratio of 2.77, a quick ratio of 0.73 and a debt-to-equity ratio of 18.42. The firm’s 50-day moving average price is C$0.67 and its 200-day moving average price is C$0.74. The firm has a market capitalization of C$186.88 million, a P/E ratio of -2.68, a P/E/G ratio of 0.32 and a beta of 1.91. Western Forest Products Inc. has a 1-year low of C$0.58 and a 1-year high of C$1.28.

Western Forest Products (TSE:WEFGet Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported C($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.05) by C$0.01. The business had revenue of C$246.60 million for the quarter. Western Forest Products had a negative return on equity of 11.50% and a negative net margin of 6.73%. Equities research analysts anticipate that Western Forest Products Inc. will post 0.004992 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WEF. Royal Bank of Canada decreased their target price on Western Forest Products from C$1.00 to C$0.80 and set a “sector perform” rating on the stock in a research report on Tuesday, December 19th. Scotiabank set a C$0.80 target price on Western Forest Products and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. TD Securities cut their target price on Western Forest Products from C$0.85 to C$0.75 and set a “hold” rating on the stock in a report on Thursday, February 15th. Finally, CIBC decreased their price target on Western Forest Products from C$0.75 to C$0.65 and set a “neutral” rating for the company in a research note on Thursday, February 15th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$0.75.

Check Out Our Latest Stock Report on WEF

About Western Forest Products

(Get Free Report)

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.

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