BMO Capital Markets Raises West Fraser Timber (NYSE:WFG) Price Target to $115.00

West Fraser Timber (NYSE:WFG) had its price objective increased by analysts at BMO Capital Markets from $105.00 to $115.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 21.73% from the company’s previous close.

Separately, Royal Bank of Canada lifted 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 report on Friday, July 26th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $107.60.

West Fraser Timber Stock Down 2.0 %

Shares of NYSE WFG opened at $94.47 on Tuesday. West Fraser Timber has a 1 year low of $64.11 and a 1 year high of $102.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.49. The company has a 50 day simple moving average of $92.37 and a 200-day simple moving average of $84.16. The company has a market capitalization of $7.45 billion, a P/E ratio of -78.07 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share 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 during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the business posted ($0.03) EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts predict that West Fraser Timber will post 2.03 earnings per share for the current year.

Institutional Investors Weigh In On West Fraser Timber

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in West Fraser Timber by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 2,813,970 shares of the company’s stock valued at $240,820,000 after acquiring an additional 28,399 shares during the last quarter. 1832 Asset Management L.P. increased its stake in West Fraser Timber by 18.4% in the second quarter. 1832 Asset Management L.P. now owns 989,374 shares of the company’s stock valued at $76,053,000 after purchasing an additional 153,600 shares during the period. Van Lanschot Kempen Investment Management N.V. increased its stake in West Fraser Timber by 15.2% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 692,453 shares of the company’s stock valued at $53,229,000 after purchasing an additional 91,490 shares during the period. Thrivent Financial for Lutherans acquired a new position in West Fraser Timber in the second quarter valued at $52,645,000. Finally, Vontobel Holding Ltd. increased its stake in West Fraser Timber by 7.5% in the third quarter. Vontobel Holding Ltd. now owns 571,583 shares of the company’s stock valued at $55,683,000 after purchasing an additional 39,651 shares during the period. 40.23% of the stock is owned by hedge funds and other 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.