Weyerhaeuser (NYSE:WY) Price Target Lowered to $29.00 at Citigroup

Weyerhaeuser (NYSE:WY) had its price objective decreased by stock analysts at Citigroup from $30.00 to $29.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s price objective would suggest a potential upside of 14.41% from the stock’s previous close.

WY has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price objective on shares of Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a report on Friday, July 10th. Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a research note on Thursday, April 23rd. Truist Financial reiterated a “hold” rating and set a $28.00 price target (up from $27.00) on shares of Weyerhaeuser in a research note on Monday. Finally, Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Weyerhaeuser has an average rating of “Moderate Buy” and an average price target of $29.00.

Weyerhaeuser Stock Up 0.5%

Shares of WY traded up $0.12 during mid-day trading on Tuesday, reaching $25.35. The company’s stock had a trading volume of 815,151 shares, compared to its average volume of 5,908,199. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.15. Weyerhaeuser has a 12-month low of $21.16 and a 12-month high of $27.75. The stock has a market cap of $18.28 billion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 1.48 and a beta of 0.89. The company’s 50 day moving average is $24.19 and its 200 day moving average is $24.61.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.05. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%.The firm’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. Equities analysts anticipate that Weyerhaeuser will post 0.29 EPS for the current fiscal year.

Institutional Trading of Weyerhaeuser

A number of large investors have recently bought and sold shares of the business. Next Capital Management LLC purchased a new position in shares of Weyerhaeuser during the second quarter worth about $239,000. AIA Group Ltd raised its stake in Weyerhaeuser by 92.4% during the 2nd quarter. AIA Group Ltd now owns 714,991 shares of the real estate investment trust’s stock valued at $17,117,000 after acquiring an additional 343,414 shares during the last quarter. MGO One Seven LLC lifted its position in Weyerhaeuser by 2.2% during the 2nd quarter. MGO One Seven LLC now owns 43,834 shares of the real estate investment trust’s stock worth $1,049,000 after acquiring an additional 929 shares during the period. Markel Group Inc. lifted its position in Weyerhaeuser by 585.7% during the 2nd quarter. Markel Group Inc. now owns 120,000 shares of the real estate investment trust’s stock worth $2,873,000 after acquiring an additional 102,500 shares during the period. Finally, Levin Capital Strategies L.P. purchased a new position in shares of Weyerhaeuser in the 2nd quarter valued at approximately $2,250,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.