West Fraser Timber (NYSE:WFG) Rating Lowered to Moderate Buy at Raymond James

Raymond James downgraded shares of West Fraser Timber (NYSE:WFG) from a strong-buy rating to a moderate buy rating in a report published on Monday,Zacks.com reports.

A number of other research analysts also recently weighed in on WFG. BMO Capital Markets lifted their price target on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Scotiabank upped their target price on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $111.60.

West Fraser Timber Price Performance

WFG stock opened at $90.02 on Monday. The firm has a market cap of $7.00 billion, a PE ratio of -70.33 and a beta of 1.22. West Fraser Timber has a 12 month low of $73.91 and a 12 month high of $102.40. The firm has a 50 day simple moving average of $90.55 and a 200 day simple moving average of $89.80.

West Fraser Timber (NYSE:WFG) last announced its earnings results on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.87). West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the company earned $1.81 earnings per share. As a group, sell-side analysts expect that West Fraser Timber will post 0.95 earnings per share for the current year.

West Fraser Timber Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.28 dividend on an annualized basis and a yield of 1.42%. This is a boost from West Fraser Timber’s previous quarterly dividend of $0.24. West Fraser Timber’s dividend payout ratio is presently -100.00%.

Hedge Funds Weigh In On West Fraser Timber

Institutional investors have recently modified their holdings of the company. Ensign Peak Advisors Inc bought a new stake in West Fraser Timber during the 2nd quarter valued at approximately $44,000. Signaturefd LLC boosted its position in shares of West Fraser Timber by 77.4% in the third quarter. Signaturefd LLC now owns 880 shares of the company’s stock valued at $86,000 after acquiring an additional 384 shares during the period. US Bancorp DE grew its stake in shares of West Fraser Timber by 82.9% in the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock worth $125,000 after acquiring an additional 582 shares during the last quarter. D.B. Root & Company LLC bought a new position in West Fraser Timber during the third quarter worth $223,000. Finally, Quantinno Capital Management LP acquired a new position in West Fraser Timber during the 3rd quarter valued at $258,000. Institutional investors own 40.23% of the company’s stock.

About West Fraser Timber

West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.