West Fraser Timber (NYSE:WFG) Price Target Raised to $118.00

West Fraser Timber (NYSE:WFG) had its target price increased by TD Securities from $115.00 to $118.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the company. Scotiabank set a $100.00 price target on West Fraser Timber and gave the stock an outperform rating in a research report on Monday, January 22nd. Royal Bank of Canada reiterated an outperform rating and issued a $97.00 price target on shares of West Fraser Timber in a research report on Thursday, March 28th. Finally, Raymond James increased their price target on shares of West Fraser Timber from $100.00 to $105.00 and gave the stock a strong-buy rating in a research note on Tuesday, February 6th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $106.25.

West Fraser Timber Stock Performance

Shares of WFG stock opened at $78.27 on Tuesday. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $81.45 and a 200 day moving average price of $78.39. The company has a market cap of $6.22 billion, a P/E ratio of -36.40 and a beta of 1.15. West Fraser Timber has a 12 month low of $64.11 and a 12 month high of $90.17.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.05. West Fraser Timber had a positive return on equity of 1.29% and a negative net margin of 2.59%. The company had revenue of $1.51 billion for the quarter. Sell-side analysts predict that West Fraser Timber will post 4.1 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Thursday, March 14th. West Fraser Timber’s dividend payout ratio is currently -27.91%.

Hedge Funds Weigh In On West Fraser Timber

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in West Fraser Timber by 1.5% in the third quarter. Vanguard Group Inc. now owns 2,785,571 shares of the company’s stock valued at $202,065,000 after acquiring an additional 39,929 shares during the period. Bank of Nova Scotia Trust Co. lifted its holdings in West Fraser Timber by 16.3% in the third quarter. Bank of Nova Scotia Trust Co. now owns 3,248 shares of the company’s stock valued at $236,000 after acquiring an additional 455 shares during the period. Hudson Bay Capital Management LP lifted its holdings in West Fraser Timber by 47.6% in the third quarter. Hudson Bay Capital Management LP now owns 155,000 shares of the company’s stock valued at $11,244,000 after acquiring an additional 50,000 shares during the period. Qube Research & Technologies Ltd acquired a new stake in West Fraser Timber in the third quarter valued at $1,798,000. Finally, Royal Bank of Canada lifted its holdings in West Fraser Timber by 9.0% in the third quarter. Royal Bank of Canada now owns 2,319,488 shares of the company’s stock valued at $168,256,000 after acquiring an additional 191,613 shares during the period. Hedge funds and other 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.