Royal Bank Of Canada Has Lowered Expectations for West Fraser Timber (NYSE:WFG) Stock Price

West Fraser Timber (NYSE:WFG) had its price objective decreased by equities research analysts at Royal Bank Of Canada from $97.00 to $92.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 37.48% from the stock’s previous close.

WFG has been the topic of a number of other reports. Raymond James Financial reduced their price objective on shares of West Fraser Timber from $75.00 to $70.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of West Fraser Timber in a research note on Wednesday, October 8th. Wall Street Zen cut shares of West Fraser Timber from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. TD Securities reduced their price objective on shares of West Fraser Timber from $98.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, July 25th. Finally, Zacks Research raised shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $89.50.

West Fraser Timber Stock Performance

Shares of West Fraser Timber stock opened at $66.92 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 1.61. The firm has a market cap of $5.28 billion, a P/E ratio of -38.24 and a beta of 1.13. The firm has a 50 day simple moving average of $71.36 and a 200 day simple moving average of $73.00. West Fraser Timber has a fifty-two week low of $65.45 and a fifty-two week high of $100.33.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.74). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.61 billion. West Fraser Timber had a negative net margin of 2.18% and a negative return on equity of 0.85%. Sell-side analysts predict that West Fraser Timber will post 4.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On West Fraser Timber

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Inspire Advisors LLC boosted its position in shares of West Fraser Timber by 3.3% during the first quarter. Inspire Advisors LLC now owns 4,637 shares of the company’s stock worth $357,000 after purchasing an additional 146 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of West Fraser Timber by 6.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company’s stock worth $216,000 after acquiring an additional 181 shares during the period. MGO One Seven LLC raised its holdings in shares of West Fraser Timber by 2.6% during the second quarter. MGO One Seven LLC now owns 8,868 shares of the company’s stock worth $650,000 after acquiring an additional 227 shares during the period. J.W. Cole Advisors Inc. raised its holdings in shares of West Fraser Timber by 1.3% during the second quarter. J.W. Cole Advisors Inc. now owns 19,427 shares of the company’s stock worth $1,424,000 after acquiring an additional 240 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of West Fraser Timber by 0.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 34,717 shares of the company’s stock worth $2,607,000 after acquiring an additional 251 shares during the period. 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.