Weyerhaeuser (NYSE:WY) Given New $28.00 Price Target at JPMorgan Chase & Co.

Weyerhaeuser (NYSE:WY) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $31.00 to $28.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 21.58% from the stock’s current price.

Other research analysts also recently issued reports about the company. Truist Financial reiterated a “hold” rating and set a $28.00 target price (up from $27.00) on shares of Weyerhaeuser in a research report on Monday, August 3rd. Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 price target on shares of Weyerhaeuser in a research report on Friday, July 17th. DA Davidson reissued a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, June 30th. Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. One investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

Weyerhaeuser Price Performance

Shares of NYSE:WY traded down $0.16 during mid-day trading on Thursday, reaching $23.03. The stock had a trading volume of 5,349,433 shares, compared to its average volume of 5,816,777. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56. The company has a market cap of $16.60 billion, a P/E ratio of 35.43, a price-to-earnings-growth ratio of 2.26 and a beta of 0.87. Weyerhaeuser has a 1 year low of $21.16 and a 1 year high of $27.75. The business’s 50 day moving average price is $24.21 and its 200 day moving average price is $24.28.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. The business 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 for the quarter was down 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. Research analysts expect that Weyerhaeuser will post 0.32 EPS for the current fiscal year.

Institutional Trading of Weyerhaeuser

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in shares of Weyerhaeuser by 2,980.6% in the second quarter. California State Teachers Retirement System now owns 25,524,804 shares of the real estate investment trust’s stock valued at $611,064,000 after purchasing an additional 24,696,247 shares during the period. First Eagle Investment Management LLC increased its holdings in Weyerhaeuser by 166.1% during the 4th quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock worth $891,242,000 after purchasing an additional 23,485,504 shares during the period. Norges Bank purchased a new position in Weyerhaeuser during the 4th quarter worth $549,531,000. Bank of New York Mellon Corp bought a new stake in Weyerhaeuser during the 2nd quarter valued at $468,969,000. Finally, Wellington Management Group LLP raised its position in Weyerhaeuser by 14.3% during the 2nd quarter. Wellington Management Group LLP now owns 43,574,118 shares of the real estate investment trust’s stock valued at $1,043,164,000 after purchasing an additional 5,437,685 shares in the last quarter. 82.99% of the stock is 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.