West Fraser Timber Co. Ltd. (NYSE:WFG) Receives $106.50 Consensus PT from Analysts

Shares of West Fraser Timber Co. Ltd. (NYSE:WFG) have been assigned a consensus rating of “Buy” from the five ratings firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $105.60.

A number of research firms have weighed in on WFG. BMO Capital Markets boosted their target price on shares of West Fraser Timber from $92.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Royal Bank of Canada increased their target price on West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, July 26th.

West Fraser Timber Trading Up 4.5 %

WFG opened at $89.69 on Tuesday. The stock has a 50-day moving average of $81.20 and a 200-day moving average of $80.64. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03. West Fraser Timber has a 52-week low of $64.11 and a 52-week high of $89.97.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results 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 net margin of 2.23% and a return on equity of 3.83%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the business earned ($0.03) EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts forecast that West Fraser Timber will post 2.03 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Wednesday, June 26th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Wednesday, June 26th. West Fraser Timber’s dividend payout ratio is presently -105.78%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WFG. International Assets Investment Management LLC bought a new position in shares of West Fraser Timber during the 4th quarter worth about $9,558,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in West Fraser Timber by 48.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,055 shares of the company’s stock worth $3,272,000 after purchasing an additional 12,441 shares during the period. Bfsg LLC acquired a new stake in West Fraser Timber during the fourth quarter valued at approximately $42,000. Russell Investments Group Ltd. grew its stake in shares of West Fraser Timber by 0.7% in the 4th quarter. Russell Investments Group Ltd. now owns 76,836 shares of the company’s stock valued at $6,607,000 after purchasing an additional 558 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of West Fraser Timber by 63.9% in the 4th quarter. Van ECK Associates Corp now owns 2,806 shares of the company’s stock worth $240,000 after buying an additional 1,094 shares in the last quarter. 40.23% of the stock is 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.