Weyerhaeuser (NYSE:WY) Stock Rating Upgraded by Cibc World Mkts

Weyerhaeuser (NYSE:WY) was upgraded by equities research analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research analysts also recently commented on WY. BMO Capital Markets upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Friday, December 6th. Truist Financial reduced their target price on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, January 6th. CIBC raised shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price target for the company in a research report on Wednesday. Citigroup cut their price objective on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Raymond James raised shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.14.

Weyerhaeuser Stock Performance

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

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

Hedge Funds Weigh In On Weyerhaeuser

A number of institutional investors have recently modified their holdings of WY. Wellington Management Group LLP lifted 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Weyerhaeuser by 257.2% in the third 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 worth $151,437,000 after acquiring an additional 3,220,235 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Weyerhaeuser by 2,664.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust’s stock worth $74,355,000 after acquiring an additional 2,116,520 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position 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 during the period. Finally, Millennium Management LLC grew its position 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 during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Company Profile

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.