Zacks Investment Research Lowers West Fraser Timber (NYSE:WFG) to Hold

Zacks Investment Research downgraded shares of West Fraser Timber (NYSE:WFGGet Rating) from a buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “West Fraser Timber Co. Ltd. is a diversified wood products company. It engages in producing lumber, LVL, MDF, plywood, pulp, newsprint, wood chips, other residuals and energy principally in western Canada and the southern United States. West Fraser Timber Co. Ltd. is based in VANCOUVER, BC. “

Several other analysts also recently commented on WFG. Scotiabank upped their price objective on shares of West Fraser Timber from C$143.00 to C$147.00 in a report on Wednesday, February 16th. TD Securities lowered their price target on shares of West Fraser Timber from $125.00 to $120.00 and set a buy rating on the stock in a report on Tuesday, April 12th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, West Fraser Timber currently has a consensus rating of Buy and an average target price of $133.93.

Shares of West Fraser Timber stock opened at $91.01 on Wednesday. The company’s fifty day simple moving average is $85.24 and its 200-day simple moving average is $89.76. The stock has a market capitalization of $9.20 billion, a PE ratio of 3.04 and a beta of -0.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.55 and a quick ratio of 2.35. West Fraser Timber has a 1-year low of $64.72 and a 1-year high of $102.61.

West Fraser Timber (NYSE:WFGGet Rating) last released its quarterly earnings data on Thursday, April 28th. The company reported $10.25 EPS for the quarter, beating the consensus estimate of $7.84 by $2.41. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.83 billion. West Fraser Timber had a net margin of 29.88% and a return on equity of 42.84%. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the prior year, the firm earned $6.96 EPS. As a group, research analysts anticipate that West Fraser Timber will post 25.02 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in WFG. Catalyst Capital Advisors LLC acquired a new position in West Fraser Timber during the fourth quarter worth $33,000. Spire Wealth Management acquired a new position in West Fraser Timber during the fourth quarter worth $82,000. Pacifica Partners Inc. raised its position in West Fraser Timber by 42.9% during the first quarter. Pacifica Partners Inc. now owns 1,166 shares of the company’s stock worth $115,000 after acquiring an additional 350 shares during the period. Moors & Cabot Inc. acquired a new position in West Fraser Timber during the third quarter worth $130,000. Finally, Steward Partners Investment Advisory LLC raised its position in West Fraser Timber by 684.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 1,945 shares of the company’s stock worth $160,000 after acquiring an additional 1,697 shares during the period. 74.44% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Company Profile (Get Rating)

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.

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