TD Securities Increases West Fraser Timber (NYSE:WFG) Price Target to $118.00

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

A number of other research firms also recently commented on WFG. Royal Bank of Canada reaffirmed an outperform rating and set a $97.00 price objective on shares of West Fraser Timber in a research note on Thursday, March 28th. Scotiabank set a $100.00 target price on shares of West Fraser Timber and gave the stock an outperform rating in a research report on Monday, January 22nd. Finally, Raymond James increased their target price on shares of West Fraser Timber from $100.00 to $105.00 and gave the stock a strong-buy rating in a research report on Tuesday, February 6th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $106.25.

West Fraser Timber Price Performance

NYSE:WFG opened at $77.35 on Tuesday. West Fraser Timber has a 12-month low of $64.11 and a 12-month high of $90.17. The company’s 50-day moving average is $81.43 and its two-hundred day moving average is $78.43. 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 firm has a market cap of $6.14 billion, a price-to-earnings ratio of -35.98 and a beta of 1.15.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) EPS 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 company had revenue of $1.51 billion during the quarter. Research analysts expect that West Fraser Timber will post 4.1 EPS for the current year.

West Fraser Timber Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.55%. West Fraser Timber’s dividend payout ratio is currently -27.91%.

Institutional Trading of West Fraser Timber

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of West Fraser Timber by 1.5% during the third quarter. Vanguard Group Inc. now owns 2,785,571 shares of the company’s stock worth $202,065,000 after buying an additional 39,929 shares in the last quarter. Bank of Nova Scotia Trust Co. boosted its holdings in West Fraser Timber by 16.3% in the third quarter. Bank of Nova Scotia Trust Co. now owns 3,248 shares of the company’s stock worth $236,000 after purchasing an additional 455 shares during the period. Hudson Bay Capital Management LP boosted its holdings in West Fraser Timber by 47.6% in the third quarter. Hudson Bay Capital Management LP now owns 155,000 shares of the company’s stock worth $11,244,000 after purchasing an additional 50,000 shares during the period. Qube Research & Technologies Ltd acquired a new position in West Fraser Timber in the third quarter worth $1,798,000. Finally, Royal Bank of Canada boosted its holdings in West Fraser Timber by 9.0% in the third quarter. Royal Bank of Canada now owns 2,319,488 shares of the company’s stock worth $168,256,000 after purchasing an additional 191,613 shares during the period. Hedge funds and other institutional investors own 40.23% of the company’s stock.

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.