West Fraser Timber (NYSE:WFG) PT Raised to $115.00

West Fraser Timber (NYSE:WFG) had its target price increased by investment analysts at BMO Capital Markets from $105.00 to $115.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 21.73% from the stock’s previous close.

Separately, Royal Bank of Canada upped their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, West Fraser Timber presently has a consensus rating of “Buy” and a consensus target price of $107.60.

West Fraser Timber Trading Down 2.0 %

Shares of West Fraser Timber stock opened at $94.47 on Tuesday. West Fraser Timber has a 52-week low of $64.11 and a 52-week high of $102.40. 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 company’s 50-day simple moving average is $92.37 and its 200-day simple moving average is $84.16. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of -78.07 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.09). The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.59 billion. West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) EPS. As a group, equities research analysts anticipate that West Fraser Timber will post 2.03 earnings per share for the current year.

Hedge Funds Weigh In On West Fraser Timber

Several institutional investors and hedge funds have recently modified their holdings of WFG. Park Place Capital Corp acquired a new position in West Fraser Timber during the second quarter worth approximately $31,000. Signaturefd LLC increased its holdings in shares of West Fraser Timber by 60.0% in the 2nd quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares during the period. Ensign Peak Advisors Inc acquired a new stake in shares of West Fraser Timber in the 2nd quarter worth about $44,000. UniSuper Management Pty Ltd increased its stake in West Fraser Timber by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $69,000 after buying an additional 400 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of West Fraser Timber in the 1st quarter worth approximately $103,000. Hedge funds and other institutional investors own 40.23% of the company’s stock.

About West Fraser Timber

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.