West Fraser Timber (NYSE:WFG) Given New $100.00 Price Target at Royal Bank of Canada

West Fraser Timber (NYSE:WFG) had its price target raised by Royal Bank of Canada from $97.00 to $100.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Separately, TD Securities boosted their target price on West Fraser Timber from $115.00 to $118.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Buy and an average target price of $106.75.

West Fraser Timber Price Performance

WFG stock opened at $86.69 on Friday. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of -71.64 and a beta of 1.16. West Fraser Timber has a fifty-two week low of $64.11 and a fifty-two week high of $89.57. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $78.81 and a 200 day moving average price of $80.06.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.09). The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.59 billion. West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. West Fraser Timber’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. Equities research analysts anticipate that West Fraser Timber will post 3.3 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Wednesday, June 26th were given a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, June 26th. This represents a $1.28 annualized dividend and a dividend yield of 1.48%. West Fraser Timber’s dividend payout ratio is -105.79%.

Institutional Investors Weigh In On West Fraser Timber

Institutional investors have recently added to or reduced their stakes in the company. Bank of Nova Scotia Trust Co. increased its holdings in West Fraser Timber by 6.9% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 3,472 shares of the company’s stock valued at $300,000 after buying an additional 224 shares during the period. Quantbot Technologies LP raised its position in West Fraser Timber by 3.6% in the first quarter. Quantbot Technologies LP now owns 6,752 shares of the company’s stock worth $584,000 after purchasing an additional 236 shares in the last quarter. Inspire Advisors LLC raised its position in West Fraser Timber by 8.6% in the first quarter. Inspire Advisors LLC now owns 4,403 shares of the company’s stock worth $381,000 after purchasing an additional 350 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in shares of West Fraser Timber by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $69,000 after buying an additional 400 shares during the period. Finally, Park Place Capital Corp acquired a new stake in shares of West Fraser Timber in the 2nd quarter valued at $31,000. 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.