CanWel Building Materials Group (CWX) Rating Increased to Buy at Canaccord Genuity

Canaccord Genuity upgraded shares of CanWel Building Materials Group (TSE:CWX) from a speculative buy rating to a buy rating in a research report report published on Friday, March 9th.

A number of other research firms also recently weighed in on CWX. National Bank Financial lifted their target price on CanWel Building Materials Group from C$7.00 to C$7.50 and gave the stock an outperform rating in a research report on Monday, November 13th. CIBC restated a neutral rating and set a C$6.50 price target on shares of CanWel Building Materials Group in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. CanWel Building Materials Group has an average rating of Buy and a consensus target price of C$7.40.

TSE CWX traded down C$0.06 during trading on Friday, hitting C$6.29. 395,084 shares of the company traded hands, compared to its average volume of 211,411. CanWel Building Materials Group has a 12 month low of C$5.84 and a 12 month high of C$7.50.

CanWel Building Materials Group (TSE:CWX) last issued its quarterly earnings results on Thursday, March 8th. The company reported C$0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.07 by C$0.02. The company had revenue of C$276.22 million for the quarter, compared to the consensus estimate of C$255.96 million. CanWel Building Materials Group had a return on equity of 15.13% and a net margin of 3.65%.

In related news, Director Amar Doman acquired 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was purchased at an average price of C$6.88 per share, for a total transaction of C$206,400.00. Also, insider James Salter Code acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was bought at an average price of C$6.47 per share, with a total value of C$25,880.00. Insiders bought 81,950 shares of company stock valued at $556,338 in the last quarter.

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About CanWel Building Materials Group

CanWel Building Materials Group Ltd., through its subsidiaries, distributes building materials and home renovation products in Canada and the Western United States. The company sells adhesives; engineered wood products; fasteners; foundation, insulation, interior finishing, and outdoor living products; roofing and accessories; and siding and trim, underlayment, and security and doorware products.

Analyst Recommendations for CanWel Building Materials Group (TSE:CWX)

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