Western Forest Products (TSE:WEF) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Western Forest Products Inc. (TSE:WEF)’s share price passed above its 200-day moving average during trading on Tuesday . 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 245,369 shares.

Wall Street Analysts Forecast Growth

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

Western Forest Products Price Performance

The company has a debt-to-equity ratio of 19.61, a current ratio of 3.04 and a quick ratio of 0.73. The company has a market cap of C$136.20 million, a PE ratio of -3.12, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81. The stock has a fifty day moving average price of C$0.43 and a 200-day moving average price of C$0.45.

Western Forest Products Company Profile

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.