West Fraser Timber (NYSE:WFG) Price Target Cut to $100.00 by Analysts at Scotiabank

West Fraser Timber (NYSE:WFG) had its target price decreased by equities researchers at Scotiabank from $109.00 to $100.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 24.38% from the stock’s current price.

Several other equities research analysts have also commented on the stock. TD Securities decreased their price objective on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday. Raymond James reduced their target price on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, BMO Capital Markets lifted their price target on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $106.00.

West Fraser Timber Stock Performance

Shares of West Fraser Timber stock traded up $0.71 on Tuesday, hitting $80.40. The company had a trading volume of 201,519 shares, compared to its average volume of 182,322. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of -62.81 and a beta of 1.22. West Fraser Timber has a 1 year low of $73.91 and a 1 year high of $102.40. The stock has a 50 day moving average of $87.13 and a 200-day moving average of $90.64.

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

Hedge Funds Weigh In On West Fraser Timber

Several institutional investors have recently bought and sold shares of the company. FIL Ltd increased its position in West Fraser Timber by 35.5% in the fourth quarter. FIL Ltd now owns 5,041,873 shares of the company’s stock worth $436,861,000 after buying an additional 1,319,843 shares during the last quarter. Royal Bank of Canada grew its stake in shares of West Fraser Timber by 0.3% during the 4th quarter. Royal Bank of Canada now owns 2,980,619 shares of the company’s stock worth $257,974,000 after acquiring an additional 8,760 shares during the period. Vanguard Group Inc. increased its holdings in West Fraser Timber by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,846,663 shares of the company’s stock worth $246,652,000 after acquiring an additional 12,874 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in West Fraser Timber by 56.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company’s stock valued at $187,126,000 after acquiring an additional 780,313 shares during the period. Finally, FMR LLC lifted its holdings in West Fraser Timber by 22.5% during the third quarter. FMR LLC now owns 1,447,823 shares of the company’s stock valued at $141,047,000 after purchasing an additional 266,298 shares during the last quarter. Hedge funds and other institutional investors 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.