Raymond James Has Lowered Expectations for West Fraser Timber (NYSE:WFG) Stock Price

West Fraser Timber (NYSE:WFG) had its price objective dropped by equities research analysts at Raymond James from $105.00 to $90.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 23.17% from the stock’s previous close.

WFG has been the topic of several other research reports. TD Securities cut their price objective on West Fraser Timber from $110.00 to $99.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada cut their price target on shares of West Fraser Timber from $117.00 to $99.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Scotiabank decreased their price objective on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a report on Tuesday, February 18th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $100.60.

West Fraser Timber Trading Down 2.0 %

Shares of WFG opened at $73.07 on Tuesday. The company’s fifty day simple moving average is $76.27 and its 200-day simple moving average is $86.04. The company has a market cap of $5.64 billion, a P/E ratio of -347.95 and a beta of 1.21. West Fraser Timber has a twelve month low of $69.48 and a twelve month high of $102.40.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.15). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.53 billion. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. Analysts predict that West Fraser Timber will post 4.45 earnings per share for the current fiscal year.

Institutional Trading of West Fraser Timber

Several institutional investors and hedge funds have recently made changes to their positions in WFG. Raymond James Financial Inc. bought a new stake in shares of West Fraser Timber in the 4th quarter valued at about $487,000. Alberta Investment Management Corp increased its holdings in West Fraser Timber by 58.7% during the fourth quarter. Alberta Investment Management Corp now owns 293,903 shares of the company’s stock valued at $25,452,000 after buying an additional 108,670 shares during the period. Vontobel Holding Ltd. lifted its holdings in West Fraser Timber by 6.3% during the fourth quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company’s stock worth $52,565,000 after buying an additional 35,855 shares during the period. Tacita Capital Inc bought a new stake in West Fraser Timber during the fourth quarter valued at about $412,000. Finally, Manning & Napier Advisors LLC boosted its holdings in shares of West Fraser Timber by 14.7% in the 4th quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock valued at $73,830,000 after buying an additional 109,447 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors.

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.