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

West Fraser Timber (NYSE:WFG) had its price objective decreased by equities research analysts at Raymond James from $115.00 to $105.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price objective suggests a potential upside of 31.32% from the stock’s previous close.

WFG has been the topic of a number of other research reports. BMO Capital Markets boosted their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Scotiabank decreased their price objective on shares of West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating on the stock in a report on Monday, February 3rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $107.80.

West Fraser Timber Stock Down 0.8 %

Shares of West Fraser Timber stock opened at $79.96 on Thursday. West Fraser Timber has a 52-week low of $73.91 and a 52-week high of $102.40. The company’s 50-day simple moving average is $87.40 and its 200-day simple moving average is $90.65. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of -62.47 and a beta of 1.22.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts anticipate that West Fraser Timber will post 1.59 EPS for the current year.

Hedge Funds Weigh In On West Fraser Timber

Several institutional investors and hedge funds have recently modified their holdings of WFG. Creative Planning lifted its stake in shares of West Fraser Timber by 76.3% during the second quarter. Creative Planning now owns 4,158 shares of the company’s stock valued at $320,000 after buying an additional 1,800 shares during the period. Signaturefd LLC increased its position in West Fraser Timber by 77.4% during the third quarter. Signaturefd LLC now owns 880 shares of the company’s stock worth $86,000 after purchasing an additional 384 shares during the last quarter. International Assets Investment Management LLC acquired a new position in West Fraser Timber during the third quarter worth approximately $12,370,000. DekaBank Deutsche Girozentrale increased its position in West Fraser Timber by 1.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 34,466 shares of the company’s stock worth $3,285,000 after purchasing an additional 532 shares during the last quarter. Finally, US Bancorp DE increased its position in West Fraser Timber by 82.9% during the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock worth $125,000 after purchasing an additional 582 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

About West Fraser Timber

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.