DA Davidson Reaffirms “Buy” Rating for Weyerhaeuser (NYSE:WY)

Weyerhaeuser (NYSE:WY)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They currently have a $31.00 price target on the real estate investment trust’s stock. DA Davidson’s price objective would suggest a potential upside of 31.06% from the company’s current price.

Several other research analysts have also commented on the stock. Weiss Ratings upgraded shares of Weyerhaeuser from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 10th. Truist Financial cut their price objective on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, April 15th. Canadian Imperial Bank of Commerce set a $28.00 target price on Weyerhaeuser in a report on Thursday, April 23rd. Citigroup reaffirmed an “outperform” rating on shares of Weyerhaeuser in a report on Thursday, April 23rd. Finally, Wall Street Zen downgraded shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.75.

Weyerhaeuser Trading Down 1.4%

NYSE:WY traded down $0.34 during midday trading on Monday, reaching $23.65. 1,553,057 shares of the stock traded hands, compared to its average volume of 6,219,419. The company has a fifty day moving average of $24.33 and a 200 day moving average of $24.20. Weyerhaeuser has a 12 month low of $21.16 and a 12 month high of $27.86. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42. The stock has a market capitalization of $17.06 billion, a P/E ratio of 43.79, a PEG ratio of 2.63 and a beta of 0.90.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the business posted $0.11 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts predict that Weyerhaeuser will post 0.26 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard Beckwitt acquired 20,000 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was acquired at an average cost of $25.70 per share, with a total value of $514,000.00. Following the acquisition, the director directly owned 24,066 shares in the company, valued at $618,496.20. This represents a 491.88% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James Calvin O’rourke acquired 4,000 shares of the business’s stock in a transaction on Friday, February 20th. The shares were bought at an average cost of $25.35 per share, with a total value of $101,400.00. Following the completion of the acquisition, the director owned 28,661 shares in the company, valued at approximately $726,556.35. This represents a 16.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its stake in Weyerhaeuser by 18.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock worth $65,878,000 after buying an additional 346,571 shares during the period. Empowered Funds LLC raised its holdings in shares of Weyerhaeuser by 3.4% in the first quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock valued at $1,348,000 after acquiring an additional 1,498 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Weyerhaeuser by 5.9% in the first quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock valued at $1,647,000 after acquiring an additional 3,124 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Weyerhaeuser in the second quarter valued at about $275,000. Finally, Bank of Nova Scotia raised its holdings in shares of Weyerhaeuser by 10.2% in the second quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust’s stock valued at $2,354,000 after acquiring an additional 8,500 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Weyerhaeuser Company Profile

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.