Western Forest Products (TSE:WEF) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Western Forest Products Inc. (TSE:WEF) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.45 and traded as high as C$0.45. Western Forest Products shares last traded at C$0.44, with a volume of 222,973 shares.

Analysts Set New Price Targets

Several analysts have commented on WEF shares. TD Securities raised their price objective on shares of Western Forest Products from C$0.50 to C$0.55 and gave the stock a “hold” rating in a report on Tuesday, February 18th. Raymond James dropped their price target on Western Forest Products from C$0.60 to C$0.50 in a research report on Thursday, January 30th.

Western Forest Products Stock Performance

The company has a current ratio of 3.04, a quick ratio of 0.73 and a debt-to-equity ratio of 19.61. The company’s 50 day moving average is C$0.43 and its 200-day moving average is C$0.45. The company has a market capitalization of C$139.37 million, a P/E ratio of -3.19, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81.

About Western Forest Products

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales.