West Fraser Timber (NYSE:WFG) Price Target Raised to $118.00

West Fraser Timber (NYSE:WFG) had its price target lifted by TD Securities from $115.00 to $118.00 in a research note published on Tuesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other research firms also recently issued reports on WFG. Raymond James upped their target price on West Fraser Timber from $100.00 to $105.00 and gave the company a strong-buy rating in a report on Tuesday, February 6th. Royal Bank of Canada reiterated an outperform rating and issued a $97.00 target price on shares of West Fraser Timber in a report on Thursday, March 28th. Finally, Scotiabank set a $100.00 target price on West Fraser Timber and gave the company an outperform rating in a report on Monday, January 22nd. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $106.25.

West Fraser Timber Stock Up 0.3 %

WFG stock opened at $78.27 on Tuesday. West Fraser Timber has a twelve month low of $64.11 and a twelve month high of $90.17. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $6.22 billion, a P/E ratio of -36.40 and a beta of 1.15. The firm has a 50 day simple moving average of $81.45 and a 200-day simple moving average of $78.39.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. West Fraser Timber had a negative net margin of 2.59% and a positive return on equity of 1.29%. The business had revenue of $1.51 billion for the quarter. On average, equities research analysts predict that West Fraser Timber will post 4.1 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. West Fraser Timber’s dividend payout ratio is -27.91%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AXA S.A. raised its holdings in shares of West Fraser Timber by 5.3% in the first quarter. AXA S.A. now owns 3,846 shares of the company’s stock valued at $274,000 after buying an additional 193 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of West Fraser Timber by 8.4% in the first quarter. Moors & Cabot Inc. now owns 2,525 shares of the company’s stock valued at $208,000 after buying an additional 195 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of West Fraser Timber by 0.3% in the third quarter. Baird Financial Group Inc. now owns 98,880 shares of the company’s stock valued at $7,168,000 after buying an additional 340 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of West Fraser Timber by 15.0% in the first quarter. Advisor Group Holdings Inc. now owns 2,632 shares of the company’s stock valued at $217,000 after buying an additional 344 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of West Fraser Timber by 1.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,614 shares of the company’s stock valued at $1,868,000 after buying an additional 347 shares during the last quarter. 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.