West Fraser Timber Co. Ltd. (NYSE:WFG) Receives $104.92 Average Price Target from Brokerages

West Fraser Timber Co. Ltd. (NYSE:WFG) has earned a consensus recommendation of “Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $104.92.

WFG has been the topic of a number of recent research reports. Raymond James lifted their target price on West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research report on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $97.00 price target on shares of West Fraser Timber in a research report on Thursday, March 28th. Finally, Scotiabank set a $100.00 price target on West Fraser Timber and gave the stock an “outperform” rating in a research report on Monday, January 22nd.

Institutional Trading of West Fraser Timber

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of West Fraser Timber by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,785,571 shares of the company’s stock worth $202,065,000 after buying an additional 39,929 shares in the last quarter. Bank of Nova Scotia Trust Co. raised its holdings in shares of West Fraser Timber by 16.3% during the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 3,248 shares of the company’s stock worth $236,000 after buying an additional 455 shares in the last quarter. Hudson Bay Capital Management LP increased its holdings in West Fraser Timber by 47.6% in the 3rd quarter. Hudson Bay Capital Management LP now owns 155,000 shares of the company’s stock worth $11,244,000 after purchasing an additional 50,000 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in West Fraser Timber in the 3rd quarter worth about $1,798,000. Finally, Royal Bank of Canada increased its holdings in West Fraser Timber by 9.0% in the 3rd quarter. Royal Bank of Canada now owns 2,319,488 shares of the company’s stock worth $168,256,000 after purchasing an additional 191,613 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Trading Down 3.1 %

NYSE:WFG opened at $79.13 on Friday. West Fraser Timber has a fifty-two week low of $64.11 and a fifty-two week high of $90.17. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.26 and a quick ratio of 1.45. The stock has a market capitalization of $6.29 billion, a PE ratio of -36.80 and a beta of 1.15. The business’s 50-day simple moving average is $81.37 and its 200-day simple moving average is $78.32.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate 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 for the quarter. Sell-side analysts expect that West Fraser Timber will post 4.1 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 1.52%. West Fraser Timber’s dividend payout ratio (DPR) is presently -27.91%.

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.