TD Securities Boosts West Fraser Timber (NYSE:WFG) Price Target to $118.00

West Fraser Timber (NYSE:WFG) had its price objective upped by equities research analysts at TD Securities from $115.00 to $118.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 51.28% from the company’s current price.

A number of other research firms also recently weighed in on WFG. Scotiabank set a $100.00 target price on West Fraser Timber and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Raymond James upped their target price on West Fraser Timber from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $97.00 target price on shares of West Fraser Timber in a research report on Thursday, March 28th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $106.25.

West Fraser Timber Stock Performance

Shares of NYSE WFG opened at $78.00 on Tuesday. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $81.43 and a 200-day simple moving average of $78.39. The company has a market cap of $6.20 billion, a PE ratio of -36.28 and a beta of 1.15. West Fraser Timber has a 12-month low of $64.11 and a 12-month high of $90.17.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.05. The business had revenue of $1.51 billion during the quarter. West Fraser Timber had a positive return on equity of 1.29% and a negative net margin of 2.59%. On average, equities research analysts forecast that West Fraser Timber will post 4.1 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of West Fraser Timber by 1.5% in the third quarter. Vanguard Group Inc. now owns 2,785,571 shares of the company’s stock valued at $202,065,000 after buying an additional 39,929 shares in the last quarter. Bank of Nova Scotia Trust Co. increased its holdings in shares of West Fraser Timber by 16.3% in the third quarter. Bank of Nova Scotia Trust Co. now owns 3,248 shares of the company’s stock valued at $236,000 after buying an additional 455 shares in the last quarter. Hudson Bay Capital Management LP raised its stake in West Fraser Timber by 47.6% during the 3rd quarter. Hudson Bay Capital Management LP now owns 155,000 shares of the company’s stock valued at $11,244,000 after purchasing an additional 50,000 shares during the period. Qube Research & Technologies Ltd acquired a new stake in West Fraser Timber during the 3rd quarter valued at $1,798,000. Finally, Royal Bank of Canada raised its stake in West Fraser Timber by 9.0% during the 3rd quarter. Royal Bank of Canada now owns 2,319,488 shares of the company’s stock valued at $168,256,000 after purchasing an additional 191,613 shares during the period. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Company Profile

West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.