Raymond James Cuts West Fraser Timber (NYSE:WFG) Price Target to $105.00

West Fraser Timber (NYSE:WFG) had its price target decreased by Raymond James from $115.00 to $105.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 28.90% from the company’s previous close.

Several other brokerages have also weighed in on WFG. BMO Capital Markets lifted their price objective on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Scotiabank reduced their price objective on shares of West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating for the company in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, West Fraser Timber presently has an average rating of “Buy” and an average price target of $109.40.

West Fraser Timber Stock Performance

Shares of WFG traded down $2.33 during mid-day trading on Thursday, hitting $81.46. The company’s stock had a trading volume of 191,190 shares, compared to its average volume of 171,974. The stock’s 50-day moving average is $87.99 and its two-hundred day moving average is $90.77. The firm has a market capitalization of $6.33 billion, a PE ratio of -63.81 and a beta of 1.22. West Fraser Timber has a one year low of $73.91 and a one year high of $102.40.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.63. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. Analysts expect that West Fraser Timber will post 1.59 EPS for the current fiscal year.

Hedge Funds Weigh In On West Fraser Timber

A number of institutional investors have recently bought and sold shares of the business. Atria Wealth Solutions Inc. increased its holdings in shares of West Fraser Timber by 4.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock valued at $250,000 after purchasing an additional 120 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in West Fraser Timber by 4.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company’s stock valued at $260,000 after acquiring an additional 121 shares during the period. Moors & Cabot Inc. lifted its position in West Fraser Timber by 3.5% during the third quarter. Moors & Cabot Inc. now owns 4,420 shares of the company’s stock worth $430,000 after acquiring an additional 150 shares during the last quarter. Signaturefd LLC grew its position in shares of West Fraser Timber by 22.5% in the fourth quarter. Signaturefd LLC now owns 1,078 shares of the company’s stock valued at $93,000 after purchasing an additional 198 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of West Fraser Timber by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 12,202 shares of the company’s stock worth $1,057,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Company Profile

West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.