West Fraser Timber (WFT) Reaches New 12-Month High on Analyst Upgrade

Shares of West Fraser Timber (TSE:WFT) hit a new 52-week high on Tuesday after CIBC raised their price target on the stock from C$113.00 to C$115.00. The company traded as high as C$94.68 and last traded at C$94.51, with a volume of 197840 shares. The stock had previously closed at C$91.51.

A number of other analysts have also recently weighed in on the company. Raymond James Financial increased their price target on West Fraser Timber from C$97.00 to C$120.00 in a research report on Tuesday, April 10th. TD Securities increased their price target on West Fraser Timber from C$87.00 to C$91.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. BMO Capital Markets increased their price target on West Fraser Timber from C$74.00 to C$76.00 in a research report on Friday, February 16th. Royal Bank of Canada increased their price target on West Fraser Timber from C$80.00 to C$90.00 and gave the stock a “sector perform” rating in a research report on Friday, February 16th. Finally, Scotiabank increased their price target on West Fraser Timber from C$82.00 to C$85.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of C$96.17.

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In related news, insider James A. Pattison sold 11,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of C$89.48, for a total value of C$993,228.00. Also, Director Gillian Winckler bought 750 shares of the stock in a transaction that occurred on Tuesday, March 27th. The stock was acquired at an average price of C$83.34 per share, for a total transaction of C$62,505.00.

West Fraser Timber (TSE:WFT) last posted its earnings results on Wednesday, February 14th. The company reported C$2.58 EPS for the quarter. West Fraser Timber had a return on equity of 31.45% and a net margin of 15.04%. The firm had revenue of C$1.38 billion for the quarter.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Tuesday, April 3rd were paid a dividend of $0.15 per share. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.11. This represents a $0.60 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Friday, March 16th.

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West Fraser Timber Company Profile

West Fraser Timber Co Ltd. produces and sells lumber, panels, and pulp and paper in western Canada and the southern United States. The company offers spruce/pine/fir and southern yellow pine lumber, as well as newsprint, wood chips, and lignin. It also provides treated wood, medium density fiberboard panels, laminated veneer lumber panels, and plywood; northern bleached softwood Kraft pulp used to produce various paper products, including printing and writing papers, specialty grades, and various tissue products; and bleached chemical thermo-mechanical pulp that is used to produce coated board grades, printing and writing paper, and paper towel/napkin grades, as well as specialty papers and tissue grades.

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