Analysts Set West Fraser Timber Co. Ltd. (NYSE:WFG) Target Price at $106.25

Shares of West Fraser Timber Co. Ltd. (NYSE:WFG) have been assigned an average recommendation of “Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $106.25.

WFG has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $97.00 price objective on shares of West Fraser Timber in a report on Thursday, March 28th. TD Securities boosted their price objective on West Fraser Timber from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, April 16th.

West Fraser Timber Price Performance

Shares of WFG opened at $75.39 on Wednesday. West Fraser Timber has a 52-week low of $64.11 and a 52-week high of $90.17. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.33. The business’s 50 day moving average price is $78.86 and its two-hundred day moving average price is $80.88.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.48. West Fraser Timber had a positive return on equity of 2.35% and a negative net margin of 1.39%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the firm earned ($0.52) earnings per share. The company’s revenue was up .0% compared to the same quarter last year. Research analysts forecast that West Fraser Timber will post 4.73 EPS for the current year.

West Fraser Timber Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 26th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, June 26th. West Fraser Timber’s payout ratio is currently -105.78%.

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. Park Place Capital Corp purchased a new stake in West Fraser Timber in the 2nd quarter valued at $31,000. Virtu Financial LLC purchased a new stake in West Fraser Timber in the 1st quarter valued at $218,000. EJF Capital LLC raised its position in West Fraser Timber by 18.6% in the 1st quarter. EJF Capital LLC now owns 8,300 shares of the company’s stock valued at $717,000 after buying an additional 1,302 shares during the last quarter. Appian Way Asset Management LP purchased a new stake in West Fraser Timber in the 1st quarter valued at $1,220,000. Finally, Bank of Nova Scotia Trust Co. raised its position in West Fraser Timber by 6.9% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 3,472 shares of the company’s stock valued at $300,000 after buying an additional 224 shares during the last quarter. 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.