Shares of West Fraser Timber Co. Ltd. (NYSE:WFG – Get Free Report) have been given a consensus recommendation of “Buy” by the five ratings firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $106.50.
A number of equities analysts have commented on the stock. Credit Suisse Group lifted their price objective on shares of West Fraser Timber from $106.50 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, August 23rd. CSFB increased their target price on shares of West Fraser Timber from $106.50 to $108.50 and gave the stock an “outperform” rating in a report on Wednesday, August 23rd. Raymond James dropped their target price on shares of West Fraser Timber from $125.00 to $110.00 and set a “strong-buy” rating on the stock in a report on Friday, October 20th. Royal Bank of Canada dropped their target price on shares of West Fraser Timber from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 30th. Finally, TheStreet upgraded shares of West Fraser Timber from a “d+” rating to a “c” rating in a research report on Friday, October 27th.
West Fraser Timber Stock Performance
West Fraser Timber (NYSE:WFG – Get Free Report) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.91. The firm had revenue of $1.71 billion for the quarter. West Fraser Timber had a positive return on equity of 0.28% and a negative net margin of 1.65%. Equities analysts forecast that West Fraser Timber will post -0.39 earnings per share for the current fiscal year.
West Fraser Timber Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Wednesday, September 27th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Tuesday, September 26th. West Fraser Timber’s payout ratio is -85.11%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new stake in shares of West Fraser Timber in the fourth quarter worth approximately $43,000. EverSource Wealth Advisors LLC raised its position in West Fraser Timber by 136.0% during the second quarter. EverSource Wealth Advisors LLC now owns 984 shares of the company’s stock valued at $85,000 after acquiring an additional 567 shares in the last quarter. SG Americas Securities LLC bought a new position in West Fraser Timber during the third quarter valued at approximately $112,000. Moors & Cabot Inc. raised its position in West Fraser Timber by 8.4% during the first quarter. Moors & Cabot Inc. now owns 2,525 shares of the company’s stock valued at $208,000 after acquiring an additional 195 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its position in West Fraser Timber by 15.0% during the first quarter. Advisor Group Holdings Inc. now owns 2,632 shares of the company’s stock valued at $217,000 after acquiring an additional 344 shares in the last quarter. 46.23% of the stock is currently owned by institutional investors and hedge funds.
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 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.
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