Raymond James Raises CanWel Building Materials Group (CWX) Price Target to C$8.00

CanWel Building Materials Group (TSE:CWX) had its price objective lifted by Raymond James from C$7.50 to C$8.00 in a report released on Wednesday, June 13th. They currently have a strong-buy rating on the stock.

CWX has been the subject of a number of other research reports. CIBC reaffirmed a neutral rating and issued a C$6.50 price objective on shares of CanWel Building Materials Group in a research report on Wednesday, February 28th. Canaccord Genuity lifted their price objective on CanWel Building Materials Group from C$7.50 to C$7.75 in a research report on Wednesday, May 9th. Finally, National Bank Financial lifted their target price on CanWel Building Materials Group from C$8.00 to C$8.50 and gave the company an outperform rating in a report on Wednesday, May 9th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. CanWel Building Materials Group has a consensus rating of Buy and an average target price of C$7.65.

Shares of TSE:CWX traded up C$0.01 during midday trading on Wednesday, reaching C$6.88. The company’s stock had a trading volume of 130,300 shares, compared to its average volume of 173,022. CanWel Building Materials Group has a 1 year low of C$5.89 and a 1 year high of C$7.50.

CanWel Building Materials Group (TSE:CWX) last announced its quarterly earnings data on Tuesday, May 8th. The company reported C$0.08 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.06 by C$0.02. The business had revenue of C$294.97 million during the quarter, compared to the consensus estimate of C$276.40 million. CanWel Building Materials Group had a return on equity of 15.13% and a net margin of 3.65%.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, July 13th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 8.14%. The ex-dividend date is Thursday, June 28th.

About CanWel Building Materials Group

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.

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

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