Canadian Imperial Bank of Commerce Has Lowered Expectations for Weyerhaeuser (NYSE:WY) Stock Price

Key Points

• Canadian Imperial Bank of Commerce lowered Weyerhaeuser’s price target from $25 to $24 while maintaining an “outperformer” rating, implying 12.86% upside from the previous close.
• Analyst sentiment remains broadly positive: Weyerhaeuser has an overall “Moderate Buy” rating and an average price target of $26.10, though several firms recently reduced their targets.
• Weyerhaeuser’s shares traded at $21.27 after rising $0.92. The company beat quarterly EPS expectations ($0.08 versus $0.04) and reported 8.4% year-over-year revenue growth, while institutional investors own nearly 83% of its stock.

Weyerhaeuser (NYSE:WY - Get Free Report) had its price objective decreased by Canadian Imperial Bank of Commerce from $25.00 to $24.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an "outperformer" rating on the real estate investment trust's stock. Canadian Imperial Bank of Commerce's price objective would suggest a potential upside of 12.86% from the company's previous close.

Several other equities analysts have also weighed in on WY. JPMorgan Chase & Co. cut their price target on Weyerhaeuser from $31.00 to $28.00 and set an "overweight" rating for the company in a research note on Thursday, September 3rd. Raymond James Financial raised Weyerhaeuser from an "outperform" rating to a "strong-buy" rating and set a $30.00 price objective on the stock in a report on Friday, July 10th. Truist Financial cut their price objective on Weyerhaeuser from $28.00 to $24.00 and set a "hold" rating for the company in a research report on Monday, October 12th. Wall Street Zen upgraded Weyerhaeuser from a "sell" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Seaport Research Partners set a $30.00 target price on Weyerhaeuser in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $26.10.

Weyerhaeuser Stock Performance

WY traded up $0.92 on Monday, reaching $21.27. The stock had a trading volume of 5,853,153 shares, compared to its average volume of 6,290,746. Weyerhaeuser has a 12-month low of $18.25 and a 12-month high of $27.75. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The business's 50-day moving average price is $20.87 and its two-hundred day moving average price is $23.69. The company has a market cap of $15.33 billion, a P/E ratio of 34.32, a price-to-earnings-growth ratio of 2.50 and a beta of 0.92.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.04. Weyerhaeuser had a net margin of 6.47% and a return on equity of 1.72%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The company's revenue was up 8.4% compared to the same quarter last year. Sell-side analysts forecast that Weyerhaeuser will post 0.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its stake in shares of Weyerhaeuser by 524.8% in the second quarter. Assenagon Asset Management S.A. now owns 176,165 shares of the real estate investment trust's stock valued at $4,217,000 after buying an additional 147,971 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Weyerhaeuser by 23.0% during the 2nd quarter. Hsbc Holdings PLC now owns 1,636,104 shares of the real estate investment trust's stock worth $39,100,000 after acquiring an additional 305,983 shares in the last quarter. Markel Group Inc. boosted its holdings in Weyerhaeuser by 585.7% during the 2nd quarter. Markel Group Inc. now owns 120,000 shares of the real estate investment trust's stock valued at $2,873,000 after acquiring an additional 102,500 shares during the period. First Eagle Investment Management LLC boosted its holdings in Weyerhaeuser by 10.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 51,179,282 shares of the real estate investment trust's stock valued at $1,225,232,000 after acquiring an additional 4,885,818 shares during the period. Finally, SFE Investment Counsel boosted its holdings in Weyerhaeuser by 32.2% during the 1st quarter. SFE Investment Counsel now owns 209,041 shares of the real estate investment trust's stock valued at $5,107,000 after acquiring an additional 50,880 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

About Weyerhaeuser

Weyerhaeuser NYSE: WY is a real estate investment trust focused on timberlands and wood products. The company owns or controls approximately 10.4 million acres of timberlands in the United States and manages additional timberlands under long-term licenses. Its operations are concentrated in major timber-producing regions, including the Pacific Northwest, the South and the Western United States.

Weyerhaeuser's principal products include lumber, engineered wood products, structural panels and other materials used in residential and commercial construction.

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