West Fraser Timber (NYSE:WFG) Price Target Cut to $92.00 by Analysts at Royal Bank Of Canada

West Fraser Timber (NYSE:WFG) had its price target trimmed by Royal Bank Of Canada from $97.00 to $92.00 in a research report released on Monday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other research firms also recently weighed in on WFG. Wall Street Zen downgraded shares of West Fraser Timber from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Zacks Research raised West Fraser Timber from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Raymond James Financial lowered their target price on West Fraser Timber from $75.00 to $70.00 and set a “market perform” rating for the company in a report on Wednesday, October 15th. TD Securities cut their price target on West Fraser Timber from $98.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, July 25th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of West Fraser Timber in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $94.60.

West Fraser Timber Stock Down 1.8%

NYSE:WFG opened at $65.63 on Monday. The stock has a fifty day simple moving average of $71.47 and a 200-day simple moving average of $73.05. The company has a current ratio of 2.89, a quick ratio of 1.61 and a debt-to-equity ratio of 0.04. The company has a market cap of $5.18 billion, a price-to-earnings ratio of -37.50 and a beta of 1.13. West Fraser Timber has a twelve month low of $65.46 and a twelve month high of $100.33.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.74). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.61 billion. West Fraser Timber had a negative return on equity of 0.85% and a negative net margin of 2.18%. Analysts anticipate that West Fraser Timber will post 4.45 EPS for the current year.

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Thursday, September 25th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, September 25th. West Fraser Timber’s dividend payout ratio (DPR) is -73.14%.

Institutional Investors Weigh In On West Fraser Timber

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC acquired a new position in shares of West Fraser Timber during the 2nd quarter worth approximately $27,000. Parallel Advisors LLC increased its holdings in West Fraser Timber by 265.1% in the 2nd quarter. Parallel Advisors LLC now owns 398 shares of the company’s stock worth $29,000 after acquiring an additional 289 shares in the last quarter. GAMMA Investing LLC raised its position in West Fraser Timber by 7,588.9% during the first quarter. GAMMA Investing LLC now owns 692 shares of the company’s stock worth $53,000 after acquiring an additional 683 shares during the period. PNC Financial Services Group Inc. raised its position in West Fraser Timber by 346.6% during the second quarter. PNC Financial Services Group Inc. now owns 2,090 shares of the company’s stock worth $153,000 after acquiring an additional 1,622 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in West Fraser Timber by 6.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company’s stock valued at $216,000 after purchasing an additional 181 shares in the last quarter. 40.23% of the stock is owned by institutional investors and hedge funds.

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.