Western Forest Products Inc (TSE:WEF) – Investment analysts at Raymond James cut their Q3 2019 EPS estimates for shares of Western Forest Products in a research report issued on Wednesday, October 16th. Raymond James analyst D. Swetlishoff now anticipates that the company will earn ($0.04) per share for the quarter, down from their prior estimate of ($0.03). Raymond James currently has a “Outperform” rating and a $2.10 price target on the stock. Raymond James also issued estimates for Western Forest Products’ FY2019 earnings at ($0.05) EPS.
A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada lowered Western Forest Products from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$2.00 to C$1.50 in a research note on Wednesday, August 7th. CIBC lowered their price objective on Western Forest Products from C$1.50 to C$1.25 in a research note on Friday, October 11th. Finally, TD Securities lowered their price objective on Western Forest Products from C$1.75 to C$1.50 and set a “hold” rating for the company in a research note on Tuesday, August 6th.
In other news, Senior Officer Donald Eugene Demens bought 30,000 shares of Western Forest Products stock in a transaction on Tuesday, August 27th. The shares were bought at an average price of C$1.17 per share, with a total value of C$35,100.00. Following the acquisition, the insider now directly owns 760,000 shares in the company, valued at approximately C$889,200. Also, Senior Officer Stephen D.A. Williams bought 25,000 shares of Western Forest Products stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of C$1.30 per share, for a total transaction of C$32,500.00. Following the acquisition, the insider now owns 345,000 shares in the company, valued at C$448,500. In the last 90 days, insiders have acquired 78,200 shares of company stock valued at $94,944.
Western Forest Products Company Profile
Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers various products for outdoor living space, such as structures, decking, landscaping, and fencing; home components, including appearance, Japanese housing, and framing, as well as siding, paneling, trim, and soffits; and furniture, moldings, and decorative purpose, as well as doors, windows, and stair components.
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