Truist Financial Has Lowered Expectations for Weyerhaeuser (NYSE:WY) Stock Price

Weyerhaeuser (NYSE:WY) had its target price reduced by stock analysts at Truist Financial from $29.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective suggests a potential upside of 14.91% from the stock’s previous close.

A number of other analysts have also weighed in on WY. DA Davidson restated a “buy” rating and issued a $31.00 target price on shares of Weyerhaeuser in a research report on Tuesday, March 31st. Wall Street Zen lowered shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Citigroup raised their target price on shares of Weyerhaeuser from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Finally, Weiss Ratings raised shares of Weyerhaeuser from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Weyerhaeuser currently has an average rating of “Hold” and a consensus price target of $28.75.

Weyerhaeuser Stock Performance

Shares of Weyerhaeuser stock opened at $24.37 on Wednesday. Weyerhaeuser has a fifty-two week low of $21.16 and a fifty-two week high of $27.86. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.83. The firm has a market capitalization of $17.57 billion, a P/E ratio of 55.38, a P/E/G ratio of 2.65 and a beta of 0.98. The company’s 50 day moving average price is $24.68 and its two-hundred day moving average price is $24.18.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Weyerhaeuser had a net margin of 4.69% and a return on equity of 1.50%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business posted $0.11 earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities analysts forecast that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard Beckwitt bought 20,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was acquired at an average price of $25.70 per share, with a total value of $514,000.00. Following the completion of the purchase, the director directly owned 24,066 shares of the company’s stock, valued at approximately $618,496.20. This represents a 491.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Calvin O’rourke bought 4,000 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were purchased at an average cost of $25.35 per share, with a total value of $101,400.00. Following the purchase, the director directly owned 28,661 shares of the company’s stock, valued at $726,556.35. The trade was a 16.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Weyerhaeuser

A number of hedge funds have recently bought and sold shares of WY. First Eagle Investment Management LLC raised its stake in Weyerhaeuser by 166.1% during the fourth quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock worth $891,242,000 after buying an additional 23,485,504 shares during the last quarter. Norges Bank bought a new position in Weyerhaeuser during the fourth quarter worth $549,531,000. Freestone Grove Partners LP raised its stake in Weyerhaeuser by 124.5% during the third quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust’s stock worth $166,030,000 after buying an additional 3,713,932 shares during the last quarter. Wellington Management Group LLP raised its stake in Weyerhaeuser by 6.3% during the third quarter. Wellington Management Group LLP now owns 39,646,897 shares of the real estate investment trust’s stock worth $982,847,000 after buying an additional 2,343,724 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Weyerhaeuser by 86.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,300,937 shares of the real estate investment trust’s stock worth $106,620,000 after buying an additional 1,990,806 shares during the last quarter. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Company Profile

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.