Raymond James Issues Pessimistic Forecast for West Fraser Timber (NYSE:WFG) Stock Price

West Fraser Timber (NYSE:WFG) had its price target reduced by investment analysts at Raymond James from $115.00 to $105.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 28.90% from the stock’s previous close.

WFG has been the topic of several other research reports. Scotiabank cut their price objective on West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets raised their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $109.40.

West Fraser Timber Stock Performance

NYSE WFG traded down $2.33 during trading hours on Thursday, reaching $81.46. The company’s stock had a trading volume of 191,190 shares, compared to its average volume of 171,974. The company’s 50-day moving average is $87.99 and its two-hundred day moving average is $90.77. West Fraser Timber has a fifty-two week low of $73.91 and a fifty-two week high of $102.40. The stock has a market cap of $6.33 billion, a PE ratio of -63.81 and a beta of 1.22.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.63. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. Equities analysts expect that West Fraser Timber will post 1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On West Fraser Timber

Institutional investors and hedge funds have recently bought and sold shares of the stock. Atria Wealth Solutions Inc. increased its position in shares of West Fraser Timber by 4.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock valued at $250,000 after purchasing an additional 120 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of West Fraser Timber by 4.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company’s stock valued at $260,000 after buying an additional 121 shares in the last quarter. Moors & Cabot Inc. increased its stake in shares of West Fraser Timber by 3.5% in the third quarter. Moors & Cabot Inc. now owns 4,420 shares of the company’s stock worth $430,000 after acquiring an additional 150 shares during the last quarter. Signaturefd LLC increased its stake in shares of West Fraser Timber by 22.5% during the 4th quarter. Signaturefd LLC now owns 1,078 shares of the company’s stock worth $93,000 after purchasing an additional 198 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in West Fraser Timber by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 12,202 shares of the company’s stock worth $1,057,000 after buying an additional 228 shares during the last quarter. Institutional investors own 40.23% of the company’s stock.

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.