Royal Bank Of Canada Lowers West Fraser Timber (NYSE:WFG) Price Target to $80.00

West Fraser Timber (NYSE:WFG) had its target price decreased by Royal Bank Of Canada from $81.00 to $80.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 26.38% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Fraser Mackenzie reduced their price target on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of West Fraser Timber in a research note on Monday, April 20th. Zacks Research raised shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. TD Securities restated a “buy” rating and set a $86.00 price target on shares of West Fraser Timber in a report on Friday. Finally, Raymond James Financial lowered shares of West Fraser Timber from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $85.00 to $75.00 in a research note on Thursday, April 23rd. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, West Fraser Timber has an average rating of “Hold” and an average target price of $81.75.

West Fraser Timber Trading Down 0.0%

NYSE WFG traded down $0.01 on Friday, hitting $63.30. The company’s stock had a trading volume of 89,084 shares, compared to its average volume of 225,517. The company’s 50-day moving average is $64.82 and its 200 day moving average is $64.79. The firm has a market cap of $4.81 billion, a PE ratio of -4.21 and a beta of 1.09. West Fraser Timber has a 1-year low of $57.34 and a 1-year high of $78.55. The company has a quick ratio of 0.86, a current ratio of 2.13 and a debt-to-equity ratio of 0.05.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($1.17). The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. West Fraser Timber had a negative return on equity of 9.36% and a negative net margin of 21.86%. As a group, analysts predict that West Fraser Timber will post -2.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On West Fraser Timber

A number of institutional investors and hedge funds have recently modified their holdings of the business. EFG International AG acquired a new stake in shares of West Fraser Timber during the 4th quarter worth approximately $31,000. Physician Wealth Advisors Inc. grew its holdings in West Fraser Timber by 75.8% in the third quarter. Physician Wealth Advisors Inc. now owns 552 shares of the company’s stock worth $38,000 after purchasing an additional 238 shares during the period. Jones Financial Companies Lllp increased its stake in West Fraser Timber by 212.0% in the third quarter. Jones Financial Companies Lllp now owns 780 shares of the company’s stock valued at $52,000 after purchasing an additional 530 shares in the last quarter. Jain Global LLC bought a new stake in West Fraser Timber in the third quarter valued at $224,000. Finally, Park Avenue Securities LLC acquired a new position in shares of West Fraser Timber during the fourth quarter valued at about $229,000. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Company Profile

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.