National Bank Financial Increases CanWel Building Materials Group (CWX) Price Target to C$8.00

CanWel Building Materials Group (TSE:CWX) had its price target hoisted by stock analysts at National Bank Financial from C$7.50 to C$8.00 in a research note issued to investors on Friday, March 9th. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 27.19% from the company’s previous close. National Bank Financial also issued estimates for CanWel Building Materials Group’s Q1 2018 earnings at $0.06 EPS, Q2 2018 earnings at $0.20 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.08 EPS, FY2018 earnings at $0.55 EPS and FY2019 earnings at $0.62 EPS.

Other equities research analysts have also issued reports about the company. CIBC restated a “neutral” rating and issued a C$6.50 target price on shares of CanWel Building Materials Group in a report on Wednesday, February 28th. Canaccord Genuity upgraded CanWel Building Materials Group from a “speculative buy” rating to a “buy” rating in a report on Friday, March 9th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of C$7.40.

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CWX traded down C$0.06 during trading on Friday, reaching C$6.29. The company had a trading volume of 395,084 shares, 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 released its earnings results on Thursday, March 8th. The company reported C$0.09 earnings per share 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 analysts’ expectations 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, insider James Salter Code bought 4,000 shares of the business’s stock in a transaction on Thursday, March 29th. The shares were purchased at an average price of C$6.47 per share, with a total value of C$25,880.00. Also, Director Amar Doman bought 30,000 shares of the business’s stock in a transaction on Wednesday, March 14th. The stock was bought at an average cost of C$6.88 per share, for a total transaction of C$206,400.00. Insiders have bought 81,950 shares of company stock worth $556,338 in the last 90 days.

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CanWel Building Materials Group Company Profile

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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