West Fraser Timber (NYSE:WFG) Price Target Raised to $118.00 at TD Securities

West Fraser Timber (NYSE:WFG) had its price target boosted by TD Securities from $115.00 to $118.00 in a research report released on Tuesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other research firms also recently issued reports on WFG. Raymond James lifted their price target on shares of West Fraser Timber from $100.00 to $105.00 and gave the stock a strong-buy rating in a research note on Tuesday, February 6th. Scotiabank set a $100.00 target price on West Fraser Timber and gave the stock an outperform rating in a research report on Monday, January 22nd. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $97.00 price target on shares of West Fraser Timber in a research note on Thursday, March 28th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $106.25.

West Fraser Timber Price Performance

WFG stock opened at $77.96 on Tuesday. The firm has a market cap of $6.19 billion, a P/E ratio of -36.26 and a beta of 1.15. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.45 and a current ratio of 2.26. West Fraser Timber has a 1 year low of $64.11 and a 1 year high of $90.17. The stock has a 50-day simple moving average of $81.40 and a 200-day simple moving average of $78.39.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. West Fraser Timber had a negative net margin of 2.59% and a positive return on equity of 1.29%. The company had revenue of $1.51 billion for the quarter. On average, equities analysts predict that West Fraser Timber will post 4.1 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Thursday, March 14th. West Fraser Timber’s dividend payout ratio is currently -27.91%.

Hedge Funds Weigh In On West Fraser Timber

Several institutional investors have recently made changes to their positions in WFG. Bfsg LLC bought a new position in shares of West Fraser Timber during the fourth quarter worth about $42,000. ICA Group Wealth Management LLC bought a new position in West Fraser Timber in the 4th quarter worth about $43,000. Tower Research Capital LLC TRC bought a new position in West Fraser Timber in the 4th quarter worth about $78,000. SG Americas Securities LLC acquired a new stake in shares of West Fraser Timber in the third quarter valued at approximately $112,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of West Fraser Timber during the fourth quarter valued at approximately $209,000. 40.23% of the stock is owned by 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.