Weyerhaeuser (NYSE:WY) Upgraded to Outperformer at CIBC

Weyerhaeuser (NYSE:WY) was upgraded by CIBC from a “neutral” rating to an “outperformer” rating in a report released on Wednesday, MarketBeat reports. The brokerage presently has a $35.00 price target on the real estate investment trust’s stock. CIBC’s price objective indicates a potential upside of 16.52% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. BMO Capital Markets upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research note on Friday, December 6th. StockNews.com upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Monday, December 16th. Truist Financial lowered their price objective on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Finally, Raymond James upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.14.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $30.04 on Wednesday. The firm has a market cap of $21.83 billion, a P/E ratio of 40.59 and a beta of 1.42. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.27. The business’s 50 day moving average is $29.88 and its 200-day moving average is $30.72.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. Equities research analysts predict that Weyerhaeuser will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On Weyerhaeuser

Several hedge funds and other institutional investors have recently modified their holdings of WY. Wellington Management Group LLP increased its stake in shares of Weyerhaeuser by 12.7% in the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock valued at $1,210,694,000 after purchasing an additional 4,035,048 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Weyerhaeuser by 257.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust’s stock valued at $151,437,000 after purchasing an additional 3,220,235 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Weyerhaeuser by 2,664.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust’s stock valued at $74,355,000 after purchasing an additional 2,116,520 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Weyerhaeuser by 30.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock valued at $291,306,000 after acquiring an additional 2,004,073 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Weyerhaeuser by 512.3% during the 2nd quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust’s stock valued at $44,386,000 after acquiring an additional 1,308,125 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

About Weyerhaeuser

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.