West Fraser Timber (NYSE:WFG) Rating Lowered to “Moderate Buy” at Raymond James

West Fraser Timber (NYSE:WFG) was downgraded by Raymond James from a “strong-buy” rating to a “moderate buy” rating in a research report issued on Monday, Marketbeat Ratings reports. They currently have a $115.00 target price on the stock, down from their prior target price of $120.00. Raymond James’ target price suggests a potential upside of 24.80% from the stock’s previous close.

Several other analysts also recently commented on WFG. BMO Capital Markets lifted their target price 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 raised their target price on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $113.60.

West Fraser Timber Stock Performance

WFG opened at $92.15 on Monday. The firm has a market cap of $7.16 billion, a PE ratio of -71.99 and a beta of 1.22. The firm’s fifty day moving average is $90.55 and its two-hundred day moving average is $89.92. West Fraser Timber has a twelve month low of $73.91 and a twelve month high of $102.40.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.87). West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm earned $1.81 earnings per share. Equities analysts forecast that West Fraser Timber will post 0.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WFG. Toronto Dominion Bank raised its holdings in shares of West Fraser Timber by 0.4% in the second quarter. Toronto Dominion Bank now owns 30,040 shares of the company’s stock worth $2,309,000 after buying an additional 125 shares during the period. Moors & Cabot Inc. raised its holdings in shares of West Fraser Timber by 3.5% in the third quarter. Moors & Cabot Inc. now owns 4,420 shares of the company’s stock worth $430,000 after buying an additional 150 shares during the last quarter. CIBC Asset Management Inc grew its stake in West Fraser Timber by 0.4% during the 3rd quarter. CIBC Asset Management Inc now owns 71,471 shares of the company’s stock valued at $6,966,000 after purchasing an additional 311 shares during the last quarter. Signaturefd LLC raised its holdings in shares of 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. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of West Fraser Timber by 1.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 34,466 shares of the company’s stock worth $3,285,000 after acquiring an additional 532 shares in the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

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.