Western Forest Products (TSE:WEF) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Western Forest Products Inc. (TSE:WEF) crossed 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 trading hands.

Wall Street Analysts Forecast Growth

WEF has been the subject of several analyst reports. Raymond James reduced their price objective on Western Forest Products from C$0.60 to C$0.50 in a research note on Thursday, January 30th. TD Securities upped their price objective on Western Forest Products from C$0.50 to C$0.55 and gave the stock a “hold” rating in a research note on Tuesday, February 18th.

Western Forest Products Trading Down 1.1 %

The company has a market cap of C$139.37 million, a PE ratio of -3.19, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81. 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 50-day moving average of C$0.43 and a 200 day moving average of C$0.45.

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.