West Fraser Timber (NYSE:WFG) Given New $110.00 Price Target at TD Securities

West Fraser Timber (NYSE:WFG) had its price target cut by investment analysts at TD Securities from $120.00 to $110.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target indicates a potential upside of 35.58% from the stock’s previous close.

A number of other research analysts have also commented on the company. Scotiabank cut their price target on West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating for the company in a report on Monday, February 3rd. Raymond James cut their target price on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, BMO Capital Markets increased their price target on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $107.80.

West Fraser Timber Price Performance

Shares of NYSE WFG traded up $0.55 during trading hours on Friday, hitting $81.13. 135,446 shares of the stock were exchanged, compared to its average volume of 177,825. The firm has a market capitalization of $6.30 billion, a P/E ratio of -63.42 and a beta of 1.22. West Fraser Timber has a one year low of $73.91 and a one year high of $102.40. The company’s 50 day moving average is $87.68 and its 200 day moving average is $90.69.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.63. West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. Research analysts anticipate that West Fraser Timber will post 1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On West Fraser Timber

A number of hedge funds have recently made changes to their positions in the business. FIL Ltd boosted its holdings in West Fraser Timber by 35.5% during the fourth quarter. FIL Ltd now owns 5,041,873 shares of the company’s stock valued at $436,861,000 after purchasing an additional 1,319,843 shares in the last quarter. Norges Bank bought a new position in shares of West Fraser Timber during the 4th quarter worth approximately $81,605,000. Price T Rowe Associates Inc. MD boosted its stake in West Fraser Timber by 56.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company’s stock valued at $187,126,000 after buying an additional 780,313 shares in the last quarter. FMR LLC grew its position in West Fraser Timber by 22.5% in the third quarter. FMR LLC now owns 1,447,823 shares of the company’s stock valued at $141,047,000 after acquiring an additional 266,298 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in West Fraser Timber by 37.1% during the third quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company’s stock worth $91,429,000 after acquiring an additional 254,220 shares in the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

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.