West Fraser Timber (NYSE:WFG) Upgraded by Raymond James Financial to Outperform Rating

West Fraser Timber (NYSE:WFG) was upgraded by stock analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday, Marketbeat reports. The firm currently has a $85.00 price target on the stock. Raymond James Financial’s price target points to a potential upside of 20.21% from the company’s current price.

A number of other research analysts have also weighed in on the company. Royal Bank Of Canada reduced their price objective on West Fraser Timber from $85.00 to $83.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Wall Street Zen raised West Fraser Timber from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Zacks Research raised West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. TD Securities restated a “buy” rating on shares of West Fraser Timber in a report on Friday, July 31st. Finally, Weiss Ratings lowered West Fraser Timber from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.20.

West Fraser Timber Trading Up 2.4%

NYSE:WFG opened at $70.71 on Tuesday. The firm has a market capitalization of $5.54 billion, a P/E ratio of -4.58 and a beta of 1.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.06 and a quick ratio of 0.83. West Fraser Timber has a one year low of $57.34 and a one year high of $76.99. The company’s 50-day simple moving average is $68.39 and its 200 day simple moving average is $66.33.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.08). West Fraser Timber had a negative net margin of 22.98% and a negative return on equity of 10.84%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. As a group, analysts forecast that West Fraser Timber will post -3.77 EPS for the current fiscal year.

Institutional Trading of West Fraser Timber

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new position in shares of West Fraser Timber in the second quarter worth $21,429,000. Robotti Robert purchased a new position in shares of West Fraser Timber during the second quarter valued at approximately $20,021,000. NewGen Asset Management Ltd purchased a new stake in West Fraser Timber in the first quarter worth approximately $6,529,000. Donald Smith & CO. Inc. bought a new stake in West Fraser Timber in the 2nd quarter worth approximately $110,334,000. Finally, Atlas FRM LLC bought a new position in shares of West Fraser Timber during the 2nd quarter valued at $50,090,600. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

About West Fraser Timber

West Fraser Timber Co Ltd. is a diversified forest products company headquartered in Vancouver, British Columbia. Founded in 1955, the company has grown from a regional lumber producer into an international manufacturer and marketer of wood products, pulp and paper.

West Fraser produces dimensional lumber, engineered wood products, oriented strand board, plywood, pulp, newsprint and specialty papers. Its products are used in residential and commercial construction, repair and remodeling, packaging, printing and other industrial applications.