Scotiabank Cuts West Fraser Timber (NYSE:WFG) Price Target to $100.00

West Fraser Timber (NYSE:WFG) had its price target cut by equities researchers at Scotiabank from $109.00 to $100.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 24.38% from the company’s current price.

A number of other research firms have also commented on WFG. Raymond James cut their price objective on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. TD Securities lowered their price target on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday. Finally, BMO Capital Markets upped their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $106.00.

West Fraser Timber Stock Up 0.9 %

Shares of WFG stock traded up $0.71 during trading hours on Tuesday, hitting $80.40. 201,519 shares of the company’s stock traded hands, compared to its average volume of 182,322. The stock has a market cap of $6.25 billion, a PE ratio of -62.81 and a beta of 1.22. The stock’s 50 day simple moving average is $87.13 and its 200 day simple moving average is $90.64. West Fraser Timber has a 12 month low of $73.91 and a 12 month high of $102.40.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 earnings per share 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%. As a group, equities research analysts expect that West Fraser Timber will post 1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On West Fraser Timber

A number of large investors have recently bought and sold shares of WFG. FIL Ltd boosted its position in shares of West Fraser Timber by 35.5% during the 4th quarter. FIL Ltd now owns 5,041,873 shares of the company’s stock worth $436,861,000 after purchasing an additional 1,319,843 shares in the last quarter. Norges Bank bought a new position in West Fraser Timber in the fourth quarter worth approximately $81,605,000. Price T Rowe Associates Inc. MD grew its stake in West Fraser Timber by 56.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company’s stock valued at $187,126,000 after acquiring an additional 780,313 shares during the period. FMR LLC increased its holdings in shares of West Fraser Timber by 22.5% during the third quarter. FMR LLC now owns 1,447,823 shares of the company’s stock valued at $141,047,000 after acquiring an additional 266,298 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of West Fraser Timber by 37.1% during the third quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company’s stock worth $91,429,000 after purchasing an additional 254,220 shares during the period. 40.23% of the stock is currently owned by institutional investors and hedge funds.

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.