Cibc Captl Mkts Downgrades West Fraser Timber (NYSE:WFG) to Hold

West Fraser Timber (NYSE:WFG) was downgraded by analysts at Cibc Captl Mkts from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently commented on the stock. Raymond James Financial dropped their price objective on shares of West Fraser Timber from $75.00 to $70.00 and set a “market perform” rating for the company in a research note on Wednesday, October 15th. Royal Bank Of Canada lowered their target price on shares of West Fraser Timber from $92.00 to $91.00 and set an “outperform” rating for the company in a report on Sunday, October 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of West Fraser Timber in a research note on Wednesday, October 8th. CIBC lowered shares of West Fraser Timber from an “outperform” rating to a “neutral” rating in a report on Tuesday. Finally, Zacks Research downgraded West Fraser Timber from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, West Fraser Timber presently has an average rating of “Hold” and a consensus target price of $87.25.

West Fraser Timber Stock Performance

NYSE:WFG opened at $61.89 on Tuesday. The firm’s fifty day simple moving average is $63.02 and its 200-day simple moving average is $69.74. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.05. The stock has a market cap of $4.70 billion, a PE ratio of -18.47 and a beta of 1.12. West Fraser Timber has a fifty-two week low of $57.34 and a fifty-two week high of $94.18.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Wednesday, October 22nd. The company reported ($2.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.91). The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.38 billion. West Fraser Timber had a negative return on equity of 2.63% and a negative net margin of 4.35%. Analysts expect that West Fraser Timber will post 4.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On West Fraser Timber

Several institutional investors have recently modified their holdings of WFG. UniSuper Management Pty Ltd bought a new position in shares of West Fraser Timber in the 1st quarter valued at about $1,387,000. Invesco Ltd. boosted its position in West Fraser Timber by 44.5% during the first quarter. Invesco Ltd. now owns 112,431 shares of the company’s stock valued at $8,650,000 after purchasing an additional 34,599 shares during the last quarter. 1832 Asset Management L.P. grew its stake in West Fraser Timber by 15.2% in the second quarter. 1832 Asset Management L.P. now owns 1,642,398 shares of the company’s stock valued at $120,388,000 after purchasing an additional 217,304 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in West Fraser Timber by 10.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,607 shares of the company’s stock valued at $184,242,000 after purchasing an additional 232,558 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board increased its position in shares of West Fraser Timber by 149.3% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 68,389 shares of the company’s stock worth $5,018,000 after purchasing an additional 40,960 shares during the last quarter. Institutional investors and hedge funds 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.