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

West Fraser Timber (NYSE:WFG) had its price objective cut by Scotiabank from $109.00 to $100.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a sector outperform rating on the stock.

WFG has been the topic of a number of other research reports. Raymond James decreased their price target on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. TD Securities lowered their target price on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Finally, BMO Capital Markets upped 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $106.00.

West Fraser Timber Trading Up 0.9 %

Shares of WFG stock opened at $80.40 on Tuesday. West Fraser Timber has a 1 year low of $73.91 and a 1 year high of $102.40. The firm’s fifty day simple moving average is $86.89 and its 200 day simple moving average is $90.59. The firm has a market capitalization of $6.25 billion, a P/E ratio of -62.81 and a beta of 1.22.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share 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 fiscal year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, March 14th. West Fraser Timber’s payout ratio is -100.00%.

Institutional Investors Weigh In On West Fraser Timber

A number of hedge funds have recently added to or reduced their stakes in WFG. Creative Planning grew its holdings in West Fraser Timber by 69.8% during the 3rd quarter. Creative Planning now owns 7,059 shares of the company’s stock worth $687,000 after acquiring an additional 2,901 shares during the last quarter. Signaturefd LLC grew its holdings in West Fraser Timber by 77.4% during the 3rd quarter. Signaturefd LLC now owns 880 shares of the company’s stock worth $86,000 after acquiring an additional 384 shares during the last quarter. International Assets Investment Management LLC bought a new stake in West Fraser Timber during the 3rd quarter worth about $12,370,000. DekaBank Deutsche Girozentrale grew its holdings in 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 during the last quarter. Finally, US Bancorp DE grew its holdings in West Fraser Timber by 82.9% during the 3rd quarter. US Bancorp DE now owns 1,284 shares of the company’s stock worth $125,000 after acquiring an additional 582 shares during the last quarter. 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.