TD Securities Cuts West Fraser Timber (NYSE:WFG) Price Target to $110.00

West Fraser Timber (NYSE:WFG) had its price target reduced by TD Securities from $120.00 to $110.00 in a research note published on Friday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on the company. Raymond James reduced their price target on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday. Scotiabank cut their target price on West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating on the stock in a research report on Monday, February 3rd. Finally, BMO Capital Markets upped their price target on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, West Fraser Timber has a consensus rating of “Buy” and a consensus target price of $107.80.

West Fraser Timber Trading Down 0.8 %

Shares of NYSE WFG opened at $79.96 on Friday. West Fraser Timber has a twelve month low of $73.91 and a twelve month high of $102.40. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of -62.47 and a beta of 1.22. The business has a 50 day simple moving average of $87.40 and a 200-day simple moving average of $90.68.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, equities analysts predict that West Fraser Timber will post 1.59 earnings per share for the current year.

West Fraser Timber Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.28 annualized dividend and a yield of 1.60%. West Fraser Timber’s dividend payout ratio (DPR) is -609.52%.

Hedge Funds Weigh In On West Fraser Timber

Several large investors have recently added to or reduced their stakes in WFG. FIL Ltd raised its holdings in West Fraser Timber by 35.5% in the 4th quarter. FIL Ltd now owns 5,041,873 shares of the company’s stock valued at $436,861,000 after acquiring an additional 1,319,843 shares in the last quarter. Norges Bank acquired a new position in West Fraser Timber in the 4th quarter valued at approximately $81,605,000. Price T Rowe Associates Inc. MD raised its holdings 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 in the last quarter. FMR LLC raised its holdings in West Fraser Timber by 22.5% in the 3rd quarter. FMR LLC now owns 1,447,823 shares of the company’s stock valued at $141,047,000 after acquiring an additional 266,298 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in West Fraser Timber by 37.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company’s stock valued at $91,429,000 after acquiring an additional 254,220 shares in the last quarter. 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.