West Fraser Timber (NYSE:WFG) Given New $86.00 Price Target at TD Cowen

West Fraser Timber (NYSE:WFG) had its price objective reduced by TD Cowen from $88.00 to $86.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently commented on WFG. Royal Bank Of Canada cut their target price on shares of West Fraser Timber from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday. Zacks Research upgraded shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Fraser Mackenzie cut their price objective on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Friday. TD Securities reissued a “buy” rating and issued a $86.00 price objective on shares of West Fraser Timber in a research note on Friday. Finally, Raymond James Financial lowered West Fraser Timber from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $85.00 to $75.00 in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $82.60.

West Fraser Timber Stock Down 1.3%

Shares of WFG traded down $0.81 during midday trading on Friday, reaching $62.50. 202,684 shares of the stock were exchanged, compared to its average volume of 157,128. West Fraser Timber has a 52 week low of $57.34 and a 52 week high of $78.55. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $64.82 and its two-hundred day moving average is $64.79. The company has a market capitalization of $4.75 billion, a P/E ratio of -4.16 and a beta of 0.98.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($1.17). West Fraser Timber had a negative net margin of 21.86% and a negative return on equity of 9.67%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. On average, sell-side analysts anticipate that West Fraser Timber will post -2.5 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Friday, March 13th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, March 13th. West Fraser Timber’s dividend payout ratio (DPR) is currently -10.51%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WFG. Diversify Wealth Management LLC purchased a new stake in West Fraser Timber during the first quarter valued at approximately $345,000. Counterpoint Mutual Funds LLC purchased a new position in West Fraser Timber in the first quarter worth $323,000. Physician Wealth Advisors Inc. increased its position in shares of West Fraser Timber by 177.0% during the first quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock worth $38,000 after purchasing an additional 370 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of West Fraser Timber by 2.5% during the first quarter. Pictet Asset Management Holding SA now owns 867,974 shares of the company’s stock worth $56,511,000 after purchasing an additional 21,224 shares in the last quarter. Finally, Larry Mathis Financial Planning LLC purchased a new stake in shares of West Fraser Timber during the 4th quarter valued at $417,000. Institutional investors own 40.23% of the company’s stock.

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.