West Fraser Timber (NYSE:WFG) PT Raised to $118.00

West Fraser Timber (NYSE:WFG) had its target price lifted by research analysts at TD Securities from $115.00 to $118.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 51.28% from the company’s previous close.

Other analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $97.00 price target on shares of West Fraser Timber in a report on Thursday, March 28th. Raymond James upped their price objective on West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 6th. Finally, Scotiabank set a $100.00 target price on West Fraser Timber and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, West Fraser Timber presently has an average rating of “Buy” and a consensus target price of $106.25.

West Fraser Timber Trading Up 0.1 %

Shares of NYSE WFG opened at $78.00 on Tuesday. West Fraser Timber has a twelve month low of $64.11 and a twelve month high of $90.17. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $81.43 and a 200-day simple moving average of $78.39. The stock has a market capitalization of $6.20 billion, a PE ratio of -36.28 and a beta of 1.15.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. West Fraser Timber had a positive return on equity of 1.29% and a negative net margin of 2.59%. The business had revenue of $1.51 billion during the quarter. On average, equities analysts forecast that West Fraser Timber will post 4.1 earnings per share for the current year.

Hedge Funds Weigh In On West Fraser Timber

Several hedge funds have recently bought and sold shares of WFG. Norges Bank purchased a new position in West Fraser Timber in the 4th quarter valued at approximately $116,809,000. Bridgewater Advisors Inc. purchased a new position in West Fraser Timber during the third quarter worth $79,179,000. FIL Ltd increased its position in West Fraser Timber by 7,654.6% during the fourth quarter. FIL Ltd now owns 594,697 shares of the company’s stock worth $50,877,000 after buying an additional 587,028 shares in the last quarter. Royal Bank of Canada increased its position in West Fraser Timber by 21.5% during the fourth quarter. Royal Bank of Canada now owns 2,818,869 shares of the company’s stock worth $241,239,000 after buying an additional 499,381 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in West Fraser Timber by 124.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 696,637 shares of the company’s stock worth $49,630,000 after buying an additional 386,371 shares in the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

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.