Citigroup Issues Pessimistic Forecast for Weyerhaeuser (NYSE:WY) Stock Price

Weyerhaeuser (NYSE:WY) had its target price cut by stock analysts at Citigroup from $29.00 to $21.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s price objective suggests a potential upside of 13.15% from the stock’s current price.

A number of other research firms have also recently commented on WY. DA Davidson restated a “buy” rating and set a $31.00 target price on shares of Weyerhaeuser in a research report on Tuesday, June 30th. Raymond James Financial raised Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a report on Friday, July 10th. JPMorgan Chase & Co. lowered their price target on Weyerhaeuser from $31.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, September 3rd. Truist Financial reissued a “hold” rating and issued a $28.00 price objective (up from $27.00) on shares of Weyerhaeuser in a report on Monday, August 3rd. Finally, Wall Street Zen upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.78.

Weyerhaeuser Stock Performance

Shares of NYSE WY traded up $0.09 during midday trading on Monday, reaching $18.56. 4,211,730 shares of the stock were exchanged, compared to its average volume of 5,973,584. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. The firm has a market cap of $13.38 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 1.83 and a beta of 0.92. The firm has a 50-day simple moving average of $23.05 and a two-hundred day simple moving average of $23.72. Weyerhaeuser has a twelve month low of $18.25 and a twelve month high of $27.75.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 earnings per share. As a group, analysts anticipate that Weyerhaeuser will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its holdings in Weyerhaeuser by 3.3% in the 2nd quarter. State Street Corp now owns 34,298,957 shares of the real estate investment trust’s stock valued at $821,117,000 after purchasing an additional 1,106,553 shares in the last quarter. Security National Bank of Sioux City Iowa IA acquired a new stake in Weyerhaeuser during the 2nd quarter worth $57,000. Integrated Wealth Concepts LLC grew its holdings in shares of Weyerhaeuser by 88.2% during the second quarter. Integrated Wealth Concepts LLC now owns 34,919 shares of the real estate investment trust’s stock worth $836,000 after buying an additional 16,360 shares in the last quarter. Nykredit A S purchased a new stake in shares of Weyerhaeuser during the second quarter worth $2,074,000. Finally, Allianz Asset Management GmbH raised its position in shares of Weyerhaeuser by 21.0% in the second quarter. Allianz Asset Management GmbH now owns 3,119,317 shares of the real estate investment trust’s stock valued at $74,676,000 after buying an additional 540,614 shares during the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Weyerhaeuser Company Profile

Weyerhaeuser (NYSE: WY) is one of the world’s largest private owners of timberlands and a major producer of forest products. The company owns and manages timberlands in the United States and operates manufacturing facilities in the United States and Canada, serving residential, commercial and industrial markets.

Its principal products include lumber, structural panels, engineered wood products and other materials used in homebuilding and construction. Weyerhaeuser also manages its timberlands for sustainable wood production and generates revenue from real estate, energy and natural-resource activities associated with those properties.

Founded in 1900, Weyerhaeuser has developed from a regional timber company into an integrated forest-products business.