West Fraser Timber (NYSE:WFG) Given New $110.00 Price Target at TD Securities

West Fraser Timber (NYSE:WFG) had its price target decreased by stock analysts at TD Securities from $120.00 to $110.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 37.57% from the company’s previous close.

Several other brokerages have also recently issued reports on WFG. Raymond James reduced their target price on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday. Scotiabank reduced their target price on West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating on the stock in a report on Monday, February 3rd. Finally, BMO Capital Markets lifted their target price on 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, West Fraser Timber currently has a consensus rating of “Buy” and a consensus price target of $107.80.

West Fraser Timber Stock Down 0.8 %

NYSE:WFG opened at $79.96 on Friday. The business’s 50-day simple moving average is $87.40 and its two-hundred day simple moving average is $90.67. The stock has a market cap of $6.21 billion, a PE ratio of -62.47 and a beta of 1.22. West Fraser Timber has a 52 week low of $73.91 and a 52 week high of $102.40.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.63. West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. Sell-side analysts anticipate that West Fraser Timber will post 1.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On West Fraser Timber

Large investors have recently added to or reduced their stakes in the stock. Smead Capital Management Inc. increased its stake in West Fraser Timber by 5.1% during the third quarter. Smead Capital Management Inc. now owns 118,108 shares of the company’s stock worth $11,507,000 after acquiring an additional 5,743 shares during the last quarter. Janus Henderson Group PLC increased its stake in West Fraser Timber by 383.7% during the third quarter. Janus Henderson Group PLC now owns 74,814 shares of the company’s stock worth $7,296,000 after acquiring an additional 59,347 shares during the last quarter. Cerity Partners LLC increased its stake in West Fraser Timber by 128.0% during the third quarter. Cerity Partners LLC now owns 247,400 shares of the company’s stock worth $24,087,000 after acquiring an additional 138,871 shares during the last quarter. Manning & Napier Advisors LLC increased its stake in West Fraser Timber by 14.7% during the fourth quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock worth $73,830,000 after acquiring an additional 109,447 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in West Fraser Timber by 35.3% during the third quarter. Jane Street Group LLC now owns 26,422 shares of the company’s stock worth $2,574,000 after acquiring an additional 6,891 shares during the last quarter. 40.23% of the stock is owned by 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.