West Fraser Timber (NYSE:WFG) Downgraded to Moderate Buy Rating by Raymond James

Raymond James downgraded shares of West Fraser Timber (NYSE:WFG) from a strong-buy rating to a moderate buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other research analysts have also commented on WFG. Scotiabank lifted their target price on West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 25th. BMO Capital Markets lifted their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $111.60.

West Fraser Timber Trading Up 1.5 %

WFG opened at $90.02 on Monday. The company has a fifty day simple moving average of $90.55 and a 200 day simple moving average of $89.80. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of -70.33 and a beta of 1.22. West Fraser Timber has a twelve month low of $73.91 and a twelve month high of $102.40.

West Fraser Timber (NYSE:WFG) last announced its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.87). West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company earned $1.81 earnings per share. On average, analysts forecast that West Fraser Timber will post 0.95 earnings per share for the current fiscal year.

West Fraser Timber Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.28 annualized dividend and a dividend yield of 1.42%. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.24. West Fraser Timber’s dividend payout ratio is currently -100.00%.

Institutional Trading of West Fraser Timber

Hedge funds have recently bought and sold shares of the company. D.B. Root & Company LLC boosted its position in West Fraser Timber by 24.0% during the 4th quarter. D.B. Root & Company LLC now owns 2,840 shares of the company’s stock worth $246,000 after acquiring an additional 549 shares during the period. Avanza Fonder AB bought a new position in West Fraser Timber in the 4th quarter valued at about $529,000. Principal Financial Group Inc. increased its stake in West Fraser Timber by 12.4% during the 3rd quarter. Principal Financial Group Inc. now owns 11,974 shares of the company’s stock valued at $1,168,000 after buying an additional 1,323 shares during the period. Tidal Investments LLC raised its position in shares of West Fraser Timber by 311.2% during the 3rd quarter. Tidal Investments LLC now owns 10,962 shares of the company’s stock worth $1,067,000 after buying an additional 8,296 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of West Fraser Timber by 10.0% in the 3rd quarter. Barclays PLC now owns 7,119 shares of the company’s stock worth $693,000 after acquiring an additional 647 shares during the period. 40.23% of the stock is currently owned by institutional investors.

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.