West Fraser Timber (NYSE:WFG) Stock Bumped Up to Hold by Wall Street Zen

Wall Street Zen upgraded shares of West Fraser Timber (NYSE:WFG) from a sell rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of West Fraser Timber in a report on Friday, July 31st. Royal Bank Of Canada lowered their price target on shares of West Fraser Timber from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday, October 16th. Cantor Fitzgerald raised shares of West Fraser Timber to a “buy” rating in a research note on Thursday. Raymond James Financial cut their price target on shares of West Fraser Timber from $85.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, TD Securities reaffirmed a “buy” rating on shares of West Fraser Timber in a research note on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, West Fraser Timber has a consensus rating of “Moderate Buy” and a consensus price target of $83.80.

West Fraser Timber Price Performance

WFG opened at $67.09 on Friday. The stock has a 50-day moving average price of $68.32 and a 200-day moving average price of $67.31. West Fraser Timber has a 12-month low of $57.34 and a 12-month high of $76.99. The company has a current ratio of 2.06, a quick ratio of 0.83 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5.25 billion, a P/E ratio of -4.85 and a beta of 1.06.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Wednesday, October 28th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.42 billion. West Fraser Timber had a negative net margin of 20.39% and a negative return on equity of 9.10%. Equities analysts predict that West Fraser Timber will post -4.83 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 19th. Stockholders of record on Tuesday, September 29th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, September 29th. West Fraser Timber’s dividend payout ratio (DPR) is currently -9.25%.

Hedge Funds Weigh In On West Fraser Timber

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised its holdings in West Fraser Timber by 72.2% in the first quarter. Parallel Advisors LLC now owns 439 shares of the company’s stock worth $29,000 after purchasing an additional 184 shares in the last quarter. EFG International AG bought a new stake in shares of West Fraser Timber during the 2nd quarter valued at $34,000. Physician Wealth Advisors Inc. boosted its holdings in shares of West Fraser Timber by 177.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock valued at $38,000 after buying an additional 370 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of West Fraser Timber during the 2nd quarter valued at $40,000. Finally, Farther Finance Advisors LLC increased its stake in shares of West Fraser Timber by 4,072.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock worth $52,000 after acquiring an additional 733 shares in the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

About West Fraser Timber

West Fraser Timber Co Ltd. is a diversified wood products company that manufactures and sells building materials for residential, commercial and industrial applications. Its principal products include lumber, oriented strand board, laminated veneer lumber and other engineered wood products used in construction, remodeling and manufacturing.

The company operates wood product manufacturing facilities and manages timber resources across Canada and the United States, with a significant presence in Western Canada and the U.S.