Western Forest Products (TSE:WEF) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Western Forest Products Inc. (TSE:WEF)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 trading hands.

Analysts Set New Price Targets

WEF has been the subject of several recent analyst reports. TD Securities lifted their target price 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 lowered 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 Stock Down 2.2 %

The company’s 50 day simple moving average is C$0.43 and its 200-day simple moving average is C$0.45. 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 firm has a market cap of C$139.37 million, a P/E ratio of -3.19, a PEG 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.