West Fraser Timber (NYSE:WFG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of West Fraser Timber (NYSE:WFG) from a strong sell rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other research firms also recently issued reports on WFG. TD Securities restated a “buy” rating on shares of West Fraser Timber in a research note on Friday. Raymond James Financial cut West Fraser Timber from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $85.00 to $75.00 in a research note on Thursday, April 23rd. Fraser Mackenzie decreased their price objective on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, May 1st. TD Cowen lowered their target price on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of West Fraser Timber in a report on Friday. Four 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.20.

West Fraser Timber Price Performance

Shares of NYSE:WFG opened at $66.37 on Friday. West Fraser Timber has a 12 month low of $57.34 and a 12 month high of $76.99. The firm has a market capitalization of $5.20 billion, a P/E ratio of -4.30 and a beta of 1.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.06 and a quick ratio of 0.83. The company’s fifty day moving average price is $67.74 and its 200 day moving average price is $66.77.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.08). West Fraser Timber had a negative return on equity of 10.84% and a negative net margin of 22.98%.The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. As a group, sell-side analysts predict that West Fraser Timber will post -3.07 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Thursday, June 25th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, June 25th. West Fraser Timber’s dividend payout ratio (DPR) is -8.29%.

Institutional Investors Weigh In On West Fraser Timber

Several large investors have recently modified their holdings of WFG. Parallel Advisors LLC grew its position in West Fraser Timber by 72.2% in the 1st quarter. Parallel Advisors LLC now owns 439 shares of the company’s stock valued at $29,000 after buying an additional 184 shares during the last quarter. EFG International AG purchased a new position in West Fraser Timber during the 4th quarter worth $31,000. Physician Wealth Advisors Inc. lifted 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 worth $38,000 after acquiring an additional 370 shares during the period. Aegis Financial Corp acquired a new stake in shares of West Fraser Timber in the 1st quarter worth $205,000. Finally, Jain Global LLC purchased a new stake in shares of West Fraser Timber in the third quarter valued at about $224,000. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Company Profile

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.