Weyerhaeuser (NYSE:WY) Receives “Outperform” Rating from Royal Bank Of Canada

Weyerhaeuser (NYSE:WY)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank Of Canada in a research report issued on Friday,Benzinga reports. They presently have a $30.00 target price on the real estate investment trust’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 22.72% from the stock’s previous close.

Several other brokerages also recently issued reports on WY. Weiss Ratings downgraded Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. increased their target price on Weyerhaeuser from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Citigroup dropped their price target on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Raymond James Financial raised Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a report on Friday, July 10th. Finally, DA Davidson restated a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Weyerhaeuser has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Weyerhaeuser Price Performance

NYSE:WY traded down $0.01 during mid-day trading on Friday, hitting $24.45. 2,500,789 shares of the company’s stock traded hands, compared to its average volume of 5,970,265. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42. The company has a market cap of $17.63 billion, a PE ratio of 45.27, a price-to-earnings-growth ratio of 1.28 and a beta of 0.89. The firm’s 50 day simple moving average is $23.98 and its 200 day simple moving average is $24.62. Weyerhaeuser has a 1 year low of $21.16 and a 1 year high of $27.75.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 earnings per share. Sell-side analysts expect that Weyerhaeuser will post 0.32 EPS for the current year.

Hedge Funds Weigh In On Weyerhaeuser

Large investors have recently modified their holdings of the company. First Eagle Investment Management LLC lifted its position in Weyerhaeuser by 166.1% during the fourth quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock valued at $891,242,000 after buying an additional 23,485,504 shares in the last quarter. Norges Bank acquired a new position in shares of Weyerhaeuser during the 4th quarter valued at $549,531,000. Manning & Napier Advisors LLC purchased a new stake in Weyerhaeuser during the 1st quarter worth $101,969,000. Freestone Grove Partners LP boosted its position in Weyerhaeuser by 124.5% during the 3rd quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust’s stock worth $166,030,000 after purchasing an additional 3,713,932 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Weyerhaeuser by 16.9% in the 1st quarter. Bank of New York Mellon Corp now owns 17,717,871 shares of the real estate investment trust’s stock valued at $432,848,000 after purchasing an additional 2,555,687 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Weyerhaeuser Company Profile

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.