Weyerhaeuser (NYSE:WY) Price Target Cut to $28.00 by Analysts at Truist Financial

Weyerhaeuser (NYSE:WY) had its price objective dropped by Truist Financial from $29.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target would suggest a potential upside of 15.01% from the stock’s previous close.

WY has been the subject of several other reports. Weiss Ratings raised shares of Weyerhaeuser from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 10th. DA Davidson reissued a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a report on Tuesday, March 31st. Citigroup increased their price target on shares of Weyerhaeuser from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Finally, Wall Street Zen downgraded shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Weyerhaeuser currently has an average rating of “Hold” and an average target price of $28.75.

Weyerhaeuser Stock Performance

NYSE WY traded down $0.44 during trading on Wednesday, reaching $24.35. The company’s stock had a trading volume of 1,020,056 shares, compared to its average volume of 6,394,073. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.83 and a current ratio of 1.29. The firm has a market cap of $17.55 billion, a price-to-earnings ratio of 55.33, a P/E/G ratio of 2.67 and a beta of 0.98. Weyerhaeuser has a twelve month low of $21.16 and a twelve month high of $27.86. The business’s fifty day moving average price is $24.78 and its 200-day moving average price is $24.18.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Weyerhaeuser had a net margin of 4.69% and a return on equity of 1.50%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business posted $0.11 earnings per share. Weyerhaeuser’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, analysts anticipate that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Insider Activity at Weyerhaeuser

In other news, Director Richard Beckwitt bought 20,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was acquired at an average price of $25.70 per share, for a total transaction of $514,000.00. Following the acquisition, the director owned 24,066 shares of the company’s stock, valued at $618,496.20. This trade represents a 491.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James Calvin O’rourke purchased 4,000 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were purchased at an average cost of $25.35 per share, with a total value of $101,400.00. Following the completion of the acquisition, the director owned 28,661 shares in the company, valued at approximately $726,556.35. This represents a 16.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Weyerhaeuser

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC grew its stake in shares of Weyerhaeuser by 6.9% in the 4th quarter. Hsbc Holdings PLC now owns 1,306,310 shares of the real estate investment trust’s stock worth $30,960,000 after purchasing an additional 84,201 shares during the last quarter. World Investment Advisors purchased a new position in shares of Weyerhaeuser in the fourth quarter worth approximately $279,000. PEAK6 LLC purchased a new position in shares of Weyerhaeuser in the fourth quarter worth approximately $583,000. Corient Private Wealth LLC increased its position in shares of Weyerhaeuser by 8.5% in the fourth quarter. Corient Private Wealth LLC now owns 184,003 shares of the real estate investment trust’s stock worth $4,378,000 after acquiring an additional 14,492 shares in the last quarter. Finally, Flax Pond Capital LLC purchased a new position in shares of Weyerhaeuser in the fourth quarter worth approximately $1,674,000. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Company Profile

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.