TD Securities Increases West Fraser Timber (NYSE:WFG) Price Target to $118.00

West Fraser Timber (NYSE:WFG) had its price target boosted by TD Securities from $115.00 to $118.00 in a research note published on Tuesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank set a $100.00 price target on shares of West Fraser Timber and gave the stock an outperform rating in a research report on Monday, January 22nd. Raymond James upped their price target on shares of West Fraser Timber from $100.00 to $105.00 and gave the stock a strong-buy rating in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $97.00 price target on shares of West Fraser Timber in a research report on Thursday, March 28th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $106.25.

West Fraser Timber Price Performance

West Fraser Timber stock opened at $77.35 on Tuesday. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of -35.98 and a beta of 1.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.26 and a quick ratio of 1.45. West Fraser Timber has a 1 year low of $64.11 and a 1 year high of $90.17. The firm has a 50-day moving average of $81.43 and a two-hundred day moving average of $78.43.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.05. The company had revenue of $1.51 billion during the quarter. West Fraser Timber had a negative net margin of 2.59% and a positive return on equity of 1.29%. On average, research analysts forecast that West Fraser Timber will post 4.1 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.55%. West Fraser Timber’s dividend payout ratio (DPR) is presently -27.91%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WFG. Advisor Group Holdings Inc. raised its stake in shares of West Fraser Timber by 15.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,632 shares of the company’s stock worth $217,000 after acquiring an additional 344 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of West Fraser Timber by 32.0% during the 1st quarter. JPMorgan Chase & Co. now owns 53,051 shares of the company’s stock worth $4,373,000 after acquiring an additional 12,853 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of West Fraser Timber by 41.6% during the 1st quarter. Bank of New York Mellon Corp now owns 165,617 shares of the company’s stock worth $13,651,000 after acquiring an additional 48,652 shares in the last quarter. Citigroup Inc. raised its stake in shares of West Fraser Timber by 526.2% during the 1st quarter. Citigroup Inc. now owns 21,798 shares of the company’s stock worth $1,795,000 after acquiring an additional 18,317 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of West Fraser Timber by 286.4% during the 1st quarter. BlackRock Inc. now owns 89,586 shares of the company’s stock worth $7,385,000 after acquiring an additional 66,401 shares in the last quarter. Institutional investors own 40.23% of the company’s stock.

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.