West Fraser Timber Co. Ltd. (NYSE:WFG) Receives $100.40 Average Price Target from Analysts

West Fraser Timber Co. Ltd. (NYSE:WFG) has been given an average rating of “Buy” by the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $100.40.

Several analysts have recently commented on the stock. Scotiabank decreased their price objective on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 18th. TD Securities cut their price target on West Fraser Timber from $99.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Wall Street Zen upgraded West Fraser Timber from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank of Canada dropped their price objective on West Fraser Timber from $117.00 to $99.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Finally, Raymond James decreased their target price on West Fraser Timber from $105.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd.

West Fraser Timber Stock Performance

NYSE:WFG opened at $75.83 on Friday. The stock has a 50-day simple moving average of $74.00 and a two-hundred day simple moving average of $81.13. The firm has a market capitalization of $5.83 billion, a PE ratio of -361.10 and a beta of 1.17. West Fraser Timber has a 52-week low of $69.48 and a 52-week 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 analysts’ consensus estimates of $0.61 by ($0.15). West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.53 billion. Equities analysts forecast that West Fraser Timber will post 4.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On West Fraser Timber

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FIL Ltd raised its holdings in shares of West Fraser Timber by 35.5% during the 4th quarter. FIL Ltd now owns 5,041,873 shares of the company’s stock worth $436,861,000 after acquiring an additional 1,319,843 shares in the last quarter. Norges Bank purchased a new stake in West Fraser Timber during the fourth quarter valued at $81,605,000. Price T Rowe Associates Inc. MD lifted its position in West Fraser Timber by 56.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company’s stock valued at $187,126,000 after purchasing an additional 780,313 shares during the last quarter. Deutsche Bank AG grew its stake in shares of West Fraser Timber by 202.1% in the 1st quarter. Deutsche Bank AG now owns 395,101 shares of the company’s stock worth $30,399,000 after buying an additional 264,322 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of West Fraser Timber by 200.3% in the 4th quarter. Bank of America Corp DE now owns 315,019 shares of the company’s stock worth $27,265,000 after buying an additional 210,107 shares during the last quarter. 40.23% of the stock is 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.