West Fraser Timber Co. Ltd. (NYSE:WFG) Given Consensus Rating of “Hold” by Analysts

Shares of West Fraser Timber Co. Ltd. (NYSE:WFG) have been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $83.60.

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of West Fraser Timber in a research note on Monday, April 20th. Royal Bank Of Canada boosted their price objective on West Fraser Timber from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday. Fraser Mackenzie lowered their target price on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, May 1st. Zacks Research lowered West Fraser Timber from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Finally, TD Cowen reduced their price target on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, May 1st.

Hedge Funds Weigh In On West Fraser Timber

Several institutional investors and hedge funds have recently added to or reduced their stakes in WFG. Intact Investment Management Inc. raised its position in shares of West Fraser Timber by 820.9% during the fourth quarter. Intact Investment Management Inc. now owns 94,850 shares of the company’s stock worth $5,803,000 after acquiring an additional 84,550 shares during the last quarter. Lightrock Netherlands B.V. lifted its stake in shares of West Fraser Timber by 16.1% in the fourth quarter. Lightrock Netherlands B.V. now owns 320,303 shares of the company’s stock worth $19,574,000 after acquiring an additional 44,500 shares during the period. Hudson Bay Capital Management LP bought a new stake in West Fraser Timber in the third quarter valued at approximately $952,000. Norges Bank bought a new stake in West Fraser Timber in the fourth quarter valued at approximately $39,660,000. Finally, Pictet Asset Management Holding SA increased its position in West Fraser Timber by 2.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 867,974 shares of the company’s stock valued at $56,511,000 after purchasing an additional 21,224 shares during the period. 40.23% of the stock is currently owned by institutional investors and hedge funds.

West Fraser Timber Trading Down 1.8%

Shares of West Fraser Timber stock opened at $70.35 on Friday. The firm’s 50 day moving average is $66.54 and its 200 day moving average is $66.50. The firm has a market capitalization of $5.51 billion, a PE ratio of -4.68 and a beta of 1.00. West Fraser Timber has a 1 year low of $57.34 and a 1 year high of $76.99. The company has a current ratio of 1.84, a quick ratio of 0.66 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) EPS for the quarter, missing the consensus estimate of ($1.23) by ($1.17). West Fraser Timber had a negative net margin of 21.86% and a negative return on equity of 9.67%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. Equities research analysts forecast that West Fraser Timber will post -3.97 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 25th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, June 25th. This represents a $1.28 annualized dividend and a yield of 1.8%. West Fraser Timber’s dividend payout ratio (DPR) is currently -8.51%.

About West Fraser Timber

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.