Raymond James Issues Pessimistic Forecast for West Fraser Timber (NYSE:WFG) Stock Price

West Fraser Timber (NYSE:WFG) had its target price cut by equities research analysts at Raymond James from $120.00 to $115.00 in a report released on Thursday,BayStreet.CA reports. Raymond James’ price target indicates a potential upside of 30.81% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets increased their price objective on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Scotiabank lifted their target price on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $113.60.

West Fraser Timber Price Performance

NYSE WFG traded up $0.27 on Thursday, hitting $87.92. 28,950 shares of the stock were exchanged, compared to its average volume of 156,761. The company’s 50-day moving average price is $90.25 and its two-hundred day moving average price is $90.41. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of -68.68 and a beta of 1.22. West Fraser Timber has a 52-week low of $73.91 and a 52-week high of $102.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WFG. Signaturefd LLC raised its stake in shares of West Fraser Timber by 77.4% in the 3rd quarter. Signaturefd LLC now owns 880 shares of the company’s stock valued at $86,000 after buying an additional 384 shares in the last quarter. US Bancorp DE raised its position in 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 purchasing an additional 582 shares in the last quarter. D.B. Root & Company LLC acquired a new position in West Fraser Timber in the third quarter worth about $223,000. Quantinno Capital Management LP bought a new position in shares of West Fraser Timber during the 3rd quarter worth approximately $258,000. Finally, Creative Planning boosted its stake in shares of West Fraser Timber by 76.3% in the 2nd quarter. Creative Planning now owns 4,158 shares of the company’s stock valued at $320,000 after purchasing an additional 1,800 shares in the last quarter. 40.23% of the stock is owned by institutional investors.

West Fraser Timber Company Profile

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.