West Fraser Timber Co. Ltd. (TSE:WFT) reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$88.98 and last traded at C$80.50, with a volume of 289747 shares changing hands. The stock had previously closed at C$81.33.
WFT has been the subject of a number of research reports. TD Securities lifted their price target on shares of West Fraser Timber from C$80.00 to C$83.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. CIBC lifted their price target on shares of West Fraser Timber from C$67.00 to C$75.00 in a research report on Thursday, October 19th. Raymond James Financial lifted their price target on shares of West Fraser Timber from C$82.00 to C$84.00 and gave the company an “outperform” rating in a research report on Tuesday, October 24th. Scotiabank lifted their price objective on West Fraser Timber from C$76.00 to C$80.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 24th. Finally, Royal Bank of Canada upgraded West Fraser Timber from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from C$60.00 to C$80.00 in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. West Fraser Timber has a consensus rating of “Hold” and an average target price of C$83.33.
The firm has a market cap of $6,420.00, a PE ratio of 13.36 and a beta of 1.54.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Wednesday, December 27th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, December 26th. This represents a $0.44 annualized dividend and a dividend yield of 0.52%. West Fraser Timber’s dividend payout ratio is currently 5.04%.
In related news, insider Ketcham Investments sold 500,000 shares of West Fraser Timber stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of C$80.90, for a total transaction of C$40,450,000.00.
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West Fraser Timber Company Profile
West Fraser Timber Co Ltd. is a diversified wood products company, which produces lumber (spruce-pine-fir (SPF) and southern yellow pine (SYP)), panels (plywood, medium-density fiberboard (MDF) and laminated veneer lumber (LVL)), pulp (northern bleached softwood kraft (NBSK) and bleached chemi-thermomechanical pulp (BCTMP)), newsprint, wood chips and energy.
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