Western Forest Products Inc. (OTCMKTS:WFSTF – Get Rating) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,008,200 shares, an increase of 34.3% from the January 15th total of 1,495,300 shares. Based on an average daily volume of 35,600 shares, the days-to-cover ratio is currently 56.4 days.
Western Forest Products Stock Performance
OTCMKTS:WFSTF opened at $0.98 on Tuesday. The company's 50-day simple moving average is $0.91 and its 200-day simple moving average is $0.98. Western Forest Products has a fifty-two week low of $0.79 and a fifty-two week high of $1.80.
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Western Forest Products Cuts Dividend
The firm also recently declared a dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, November 25th were given a dividend of $0.0092 per share. This represents a yield of 4.35%. The ex-dividend date was Thursday, November 24th. Western Forest Products's dividend payout ratio is presently 22.67%.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on WFSTF shares. Raymond James lowered shares of Western Forest Products from an "outperform" rating to a "market perform" rating in a research report on Monday, October 24th. TD Securities downgraded shares of Western Forest Products from a "buy" rating to a "hold" rating in a research note on Monday, November 7th. Scotiabank reduced their target price on shares of Western Forest Products from C$2.00 to C$1.75 in a research note on Monday, January 9th. Royal Bank of Canada cut their price target on shares of Western Forest Products from C$1.75 to C$1.50 in a report on Friday, November 4th. Finally, CIBC cut their price target on shares of Western Forest Products from C$1.50 to C$1.25 in a report on Tuesday, January 10th.
About Western Forest Products
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Western Forest Products, Inc is a forest products company, which manufactures wood products and manages forests. It engages in the sale of lumber and logs, which includes timber harvesting, sawmilling logs into specialty lumber and value added lumber remanufacturing. Its products include outdoor living, home components, millwork, industrial, and non-residential.
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