West Fraser Timber Co. Ltd. (NYSE:WFG) Receives Average Rating of “Buy” from Brokerages

West Fraser Timber Co. Ltd. (NYSE:WFG) has been given an average rating of “Buy” by the six brokerages that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $106.25.

A number of equities research analysts recently weighed in on the stock. Scotiabank set a $100.00 target price on shares of West Fraser Timber and gave the stock an “outperform” rating in a report on Monday, January 22nd. Raymond James increased their price objective on shares of West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 6th. TD Securities increased their price objective on shares of West Fraser Timber from $115.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $97.00 price objective on shares of West Fraser Timber in a research note on Thursday, March 28th.

West Fraser Timber Trading Up 0.3 %

WFG opened at $78.27 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.45 and a current ratio of 2.26. West Fraser Timber has a fifty-two week low of $64.11 and a fifty-two week high of $90.17. The company’s 50-day moving average is $81.45 and its 200 day moving average is $78.39.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. West Fraser Timber had a negative net margin of 2.59% and a positive return on equity of 1.29%. The company had revenue of $1.51 billion for the quarter. On average, equities research analysts anticipate that West Fraser Timber will post 4.1 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

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

Institutional Investors Weigh In On West Fraser Timber

Several large investors have recently modified their holdings of the stock. Bfsg LLC bought a new position in West Fraser Timber in the 4th quarter worth approximately $42,000. ICA Group Wealth Management LLC bought a new position in West Fraser Timber in the 4th quarter worth approximately $43,000. Tower Research Capital LLC TRC bought a new position in West Fraser Timber in the 4th quarter worth approximately $78,000. Dixon Mitchell Investment Counsel Inc. bought a new position in West Fraser Timber in the 1st quarter worth approximately $103,000. Finally, SG Americas Securities LLC bought a new position in West Fraser Timber in the 3rd quarter worth approximately $112,000. 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.