West Fraser Timber (NYSE:WFG) Price Target Cut to C$143.00

West Fraser Timber (NYSE:WFG – Get Rating) had its price objective lowered by investment analysts at Scotiabank from C$157.00 to C$143.00 in a research note issued on Friday, The Fly reports.

Separately, TD Securities dropped their price objective on shares of West Fraser Timber from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, April 12th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $143.32.

WFG stock traded down $0.45 during trading hours on Friday, hitting $78.27. The company’s stock had a trading volume of 31,083 shares, compared to its average volume of 467,724. The company has a quick ratio of 2.35, a current ratio of 3.55 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $86.53 and a two-hundred day moving average price of $90.00. The company has a market capitalization of $7.78 billion, a PE ratio of 2.62 and a beta of -0.32. West Fraser Timber has a 12 month low of $64.72 and a 12 month high of $102.61.

West Fraser Timber (NYSE:WFG – Get Rating) last released its earnings results on Thursday, April 28th. The company reported $10.25 EPS for the quarter, beating the consensus estimate of $10.02 by $0.23. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.83 billion. West Fraser Timber had a net margin of 29.88% and a return on equity of 42.84%. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same period in the prior year, the company earned $6.96 EPS. Sell-side analysts expect that West Fraser Timber will post 28.11 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in West Fraser Timber during the 4th quarter worth approximately $372,878,000. Vanguard Group Inc. raised its holdings in West Fraser Timber by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 3,212,954 shares of the company’s stock worth $264,845,000 after buying an additional 47,956 shares during the period. Impala Asset Management LLC raised its holdings in shares of West Fraser Timber by 14.3% in the fourth quarter. Impala Asset Management LLC now owns 1,238,439 shares of the company’s stock valued at $118,155,000 after purchasing an additional 155,275 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of West Fraser Timber by 27.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,170,574 shares of the company’s stock valued at $111,766,000 after purchasing an additional 252,111 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of West Fraser Timber by 16.6% in the first quarter. Allianz Asset Management GmbH now owns 1,147,607 shares of the company’s stock valued at $94,506,000 after purchasing an additional 163,531 shares during the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.

About West Fraser Timber (Get Rating)

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 and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products.

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