West Fraser Timber (NYSE:WFG) Price Target Raised to $105.00

West Fraser Timber (NYSE:WFG) had its price target boosted by equities researchers at BMO Capital Markets from $92.00 to $105.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 21.13% from the company’s current price.

Other analysts have also issued reports about the stock. Royal Bank of Canada upped their price objective on shares of West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday. TD Securities upped their price target on shares of West Fraser Timber from $115.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $106.50.

West Fraser Timber Price Performance

Shares of WFG stock opened at $86.69 on Tuesday. The company’s 50-day simple moving average is $78.81 and its two-hundred day simple moving average is $80.06. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.49. West Fraser Timber has a one year low of $64.11 and a one year high of $89.57. The company has a market capitalization of $6.81 billion, a P/E ratio of -71.64 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.09). West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the business earned ($0.03) earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that West Fraser Timber will post 3.3 EPS for the current year.

Hedge Funds Weigh In On West Fraser Timber

Several large investors have recently made changes to their positions in WFG. Park Place Capital Corp acquired a new position in West Fraser Timber in the 2nd quarter valued at $31,000. Signaturefd LLC boosted its position in West Fraser Timber by 60.0% during the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares during the last quarter. Bfsg LLC acquired a new position in West Fraser Timber during the fourth quarter worth about $42,000. Accordant Advisory Group Inc purchased a new position in West Fraser Timber in the 1st quarter worth approximately $43,000. Finally, ICA Group Wealth Management LLC acquired a new position in shares of West Fraser Timber during the 4th quarter worth approximately $43,000. 40.23% of the stock is currently owned by institutional investors and hedge funds.

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.