CanWel Building Materials Group (TSE:CWX) Price Target Cut to C$6.50
CanWel Building Materials Group (TSE:CWX) had its target price cut by analysts at Raymond James from C$7.00 to C$6.50 in a research note issued to investors on Tuesday, November 13th. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ target price points to a potential upside of 41.61% from the company’s current price.
Several other analysts also recently issued reports on CWX. CIBC reduced their price target on shares of CanWel Building Materials Group from C$6.00 to C$5.50 in a research report on Tuesday, November 13th. National Bank Financial dropped their price objective on CanWel Building Materials Group from C$7.50 to C$7.00 and set an “outperform” rating on the stock in a research note on Friday, November 9th. Royal Bank of Canada dropped their price objective on CanWel Building Materials Group from C$7.00 to C$6.50 and set an “outperform” rating on the stock in a research note on Monday, November 12th. Finally, Canaccord Genuity lowered their target price on CanWel Building Materials Group from C$7.50 to C$6.50 and set a “buy” rating on the stock in a research note on Monday, October 1st. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of C$6.40.
Shares of CWX stock traded up C$0.03 during trading hours on Tuesday, hitting C$4.59. 94,400 shares of the company were exchanged, compared to its average volume of 175,906. CanWel Building Materials Group has a fifty-two week low of C$4.44 and a fifty-two week high of C$7.50. The company has a quick ratio of 0.99, a current ratio of 2.81 and a debt-to-equity ratio of 74.48.
In related news, Director Marc Seguin bought 10,000 shares of CanWel Building Materials Group stock in a transaction on Friday, September 21st. The stock was acquired at an average price of C$5.70 per share, with a total value of C$57,000.00. Also, Director Amar Doman bought 40,000 shares of CanWel Building Materials Group stock in a transaction on Tuesday, November 27th. The shares were bought at an average cost of C$4.69 per share, with a total value of C$187,600.00. Insiders purchased a total of 184,995 shares of company stock worth $948,449 over the last 90 days.
CanWel Building Materials Group Company Profile
CanWel Building Materials Group Ltd., through its subsidiaries, distributes building materials and home renovation products in Canada, Hawaii, and the Western United States. It operates through two segments, Building Materials Distribution and Forestry. The company sells adhesives; decking and railing; engineered wood products; fasteners; foundation; insulation; interior finishing; building envelope; lumber, plywood, OSB, and specialty industrial products; roofing and accessories; treated wood; exterior trim and décor products; welded panels; profiles and colors; fusion stones; exterior products; sidings, panels, shingles, and trims; and security and door ware products.
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