JPMorgan Chase & Co. Increases Weyerhaeuser (NYSE:WY) Price Target to $31.00

Weyerhaeuser (NYSE:WY) had its price target lifted by analysts at JPMorgan Chase & Co. from $30.00 to $31.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 27.91% from the stock’s current price.

Several other analysts have also issued reports on the company. DA Davidson reiterated a “buy” rating and set a $31.00 target price on shares of Weyerhaeuser in a report on Monday, May 4th. Wall Street Zen raised Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial cut their price target on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, April 15th. Weiss Ratings lowered shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Canadian Imperial Bank of Commerce set a $28.00 target price on Weyerhaeuser in a research report on Thursday, April 23rd. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Weyerhaeuser Stock Down 4.2%

Shares of NYSE:WY traded down $1.07 during midday trading on Monday, reaching $24.23. 4,122,559 shares of the company were exchanged, compared to its average volume of 6,047,406. The stock has a fifty day simple moving average of $24.26 and a two-hundred day simple moving average of $24.60. The firm has a market cap of $17.47 billion, a PE ratio of 44.94, a P/E/G ratio of 1.44 and a beta of 0.89. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. Weyerhaeuser has a fifty-two week low of $21.16 and a fifty-two week high of $27.75.

Weyerhaeuser (NYSE:WY) last issued 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 return on equity of 1.45% and a net margin of 5.78%.The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company posted $0.11 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Weyerhaeuser will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in shares of Weyerhaeuser by 2.1% in the 4th quarter. Nordea Investment Management AB now owns 2,370,437 shares of the real estate investment trust’s stock worth $56,310,000 after acquiring an additional 47,709 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Weyerhaeuser by 442.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 279,600 shares of the real estate investment trust’s stock worth $6,931,000 after acquiring an additional 228,100 shares in the last quarter. Cambria Investment Management L.P. bought a new position in shares of Weyerhaeuser during the 3rd quarter worth approximately $1,265,000. Legal & General Group Plc grew its stake in Weyerhaeuser by 4.7% in the 3rd quarter. Legal & General Group Plc now owns 11,382,659 shares of the real estate investment trust’s stock valued at $282,176,000 after purchasing an additional 511,657 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Weyerhaeuser by 62.6% in the 3rd quarter. Barclays PLC now owns 2,260,880 shares of the real estate investment trust’s stock worth $56,047,000 after buying an additional 870,835 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

About Weyerhaeuser

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.