Western Forest Products (TSE:WEF) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Western Forest Products Inc. (TSE:WEF)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$0.45 and traded as high as C$0.46. Western Forest Products shares last traded at C$0.45, with a volume of 498,261 shares changing hands.

Analyst Ratings Changes

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

Western Forest Products Stock Performance

The stock has a market capitalization of C$142.54 million, a P/E ratio of -3.26, a PEG ratio of 0.32 and a beta of 1.81. The company has a debt-to-equity ratio of 19.61, a quick ratio of 0.73 and a current ratio of 3.04. The company’s fifty day simple moving average is C$0.42 and its two-hundred day simple moving average is 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.