Fraser Mackenzie Lowers West Fraser Timber (NYSE:WFG) Price Target to $86.00

West Fraser Timber (NYSE:WFG) had its price target cut by stock analysts at Fraser Mackenzie from $88.00 to $86.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Fraser Mackenzie’s target price would suggest a potential upside of 35.78% from the stock’s current price.

A number of other research firms have also issued reports on WFG. Raymond James Financial lowered shares of West Fraser Timber from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $85.00 to $75.00 in a research note on Thursday, April 23rd. TD Securities restated a “buy” rating and issued a $86.00 price target on shares of West Fraser Timber in a research report on Friday. Weiss Ratings restated a “sell (d)” rating on shares of West Fraser Timber in a research report on Monday, April 20th. Royal Bank Of Canada set a $81.00 price target on shares of West Fraser Timber in a research report on Thursday, April 16th. Finally, Zacks Research upgraded shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, West Fraser Timber has an average rating of “Hold” and an average target price of $82.00.

West Fraser Timber Stock Up 0.0%

WFG stock traded up $0.03 during midday trading on Friday, reaching $63.34. The company had a trading volume of 82,005 shares, compared to its average volume of 225,507. West Fraser Timber has a 1 year low of $57.34 and a 1 year high of $78.55. The company has a current ratio of 2.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $4.82 billion, a P/E ratio of -4.21 and a beta of 1.09. The company has a 50 day moving average of $64.82 and a two-hundred day moving average of $64.79.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, April 29th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($1.17). The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. West Fraser Timber had a negative return on equity of 9.36% and a negative net margin of 21.86%. On average, equities research analysts expect that West Fraser Timber will post -2.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On West Fraser Timber

Several hedge funds have recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC acquired a new stake in West Fraser Timber during the 1st quarter worth approximately $323,000. Physician Wealth Advisors Inc. increased its stake in shares of West Fraser Timber by 177.0% in the 1st quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock valued at $38,000 after acquiring an additional 370 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of West Fraser Timber by 2.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 867,974 shares of the company’s stock valued at $56,511,000 after acquiring an additional 21,224 shares in the last quarter. Larry Mathis Financial Planning LLC bought a new stake in shares of West Fraser Timber in the 4th quarter valued at $417,000. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of West Fraser Timber by 500.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 530,573 shares of the company’s stock valued at $32,424,000 after acquiring an additional 442,138 shares in 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. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.