JPMorgan Chase & Co. Issues Pessimistic Forecast for Weyerhaeuser (NYSE:WY) Stock Price

Weyerhaeuser (NYSE:WY) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $32.00 to $30.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 32.26% from the stock’s previous close.

A number of other research analysts have also issued reports on WY. Truist Financial reduced their target price on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, April 15th. Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Citigroup dropped their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Weyerhaeuser presently has a consensus rating of “Hold” and a consensus price target of $28.88.

Weyerhaeuser Stock Down 2.9%

WY stock opened at $22.68 on Thursday. The firm has a market cap of $16.36 billion, a PE ratio of 42.01, a P/E/G ratio of 1.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42. The firm’s fifty day moving average is $24.09 and its 200 day moving average is $24.18. Weyerhaeuser has a one year low of $21.16 and a one year high of $27.86.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm posted $0.11 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts forecast that Weyerhaeuser will post 0.3 EPS for the current year.

Insider Activity at Weyerhaeuser

In other Weyerhaeuser news, Director Richard Beckwitt bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were acquired at an average cost of $25.70 per share, with a total value of $514,000.00. Following the acquisition, the director owned 24,066 shares of the company’s stock, valued at $618,496.20. The trade was a 491.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Calvin O’rourke acquired 4,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was purchased at an average cost of $25.35 per share, for a total transaction of $101,400.00. Following the completion of the acquisition, the director owned 28,661 shares in the company, valued at approximately $726,556.35. This represents a 16.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Weyerhaeuser

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in Weyerhaeuser by 4.4% during the fourth quarter. Wellington Management Group LLP now owns 41,378,212 shares of the real estate investment trust’s stock worth $980,250,000 after purchasing an additional 1,731,315 shares during the period. First Eagle Investment Management LLC grew its stake in Weyerhaeuser by 166.1% during the fourth quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock worth $891,242,000 after purchasing an additional 23,485,504 shares during the period. State Street Corp grew its stake in Weyerhaeuser by 1.7% during the fourth quarter. State Street Corp now owns 33,031,378 shares of the real estate investment trust’s stock worth $782,513,000 after purchasing an additional 562,781 shares during the period. Norges Bank acquired a new stake in Weyerhaeuser during the fourth quarter worth approximately $549,531,000. Finally, Geode Capital Management LLC grew its stake in Weyerhaeuser by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 20,299,110 shares of the real estate investment trust’s stock worth $479,155,000 after purchasing an additional 225,227 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Company Profile

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.