Western Forest Products (TSE:WEF) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Western Forest Products Inc. (TSE:WEF) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$0.48 and traded as high as C$0.53. Western Forest Products shares last traded at C$0.49, with a volume of 1,287,124 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WEF. Royal Bank of Canada cut their price objective on shares of Western Forest Products from C$0.80 to C$0.70 in a research report on Thursday, July 11th. TD Securities cut their price target on shares of Western Forest Products from C$0.60 to C$0.50 in a report on Tuesday, July 23rd. Finally, CIBC decreased their price objective on Western Forest Products from C$0.60 to C$0.50 in a report on Thursday, July 18th.

Western Forest Products Price Performance

The stock’s 50 day simple moving average is C$0.49 and its 200-day simple moving average is C$0.48. The firm has a market cap of C$155.21 million, a price-to-earnings ratio of -3.50, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81. The company has a debt-to-equity ratio of 18.43, a quick ratio of 0.73 and a current ratio of 2.97.

Western Forest Products Company Profile

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.