West Fraser Timber (NYSE:WFG) Lowered to “Moderate Buy” Rating by Raymond James

West Fraser Timber (NYSE:WFG) was downgraded by Raymond James from a “strong-buy” rating to a “moderate buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. BMO Capital Markets lifted their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Scotiabank lifted their price objective on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, West Fraser Timber currently has a consensus rating of “Buy” and an average target price of $111.60.

West Fraser Timber Stock Up 1.5 %

Shares of WFG stock opened at $90.02 on Monday. The business’s fifty day moving average is $90.55 and its 200 day moving average is $89.80. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of -70.33 and a beta of 1.22. West Fraser Timber has a twelve month low of $73.91 and a twelve month high of $102.40.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.87). West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the company earned $1.81 earnings per share. Equities research analysts expect that West Fraser Timber will post 0.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On West Fraser Timber

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in West Fraser Timber by 15.8% in the 2nd quarter. American Century Companies Inc. now owns 76,508 shares of the company’s stock worth $5,876,000 after buying an additional 10,461 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of West Fraser Timber in the second quarter worth approximately $1,862,000. Dimensional Fund Advisors LP raised its holdings in shares of West Fraser Timber by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 132,556 shares of the company’s stock valued at $10,190,000 after purchasing an additional 825 shares during the last quarter. Ensign Peak Advisors Inc bought a new position in West Fraser Timber during the second quarter valued at approximately $44,000. Finally, Evergreen Capital Management LLC boosted its holdings in West Fraser Timber by 9.0% in the second quarter. Evergreen Capital Management LLC now owns 6,826 shares of the company’s stock worth $527,000 after purchasing an additional 564 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.