JPMorgan Chase & Co. Has Lowered Expectations for Weyerhaeuser (NYSE:WY) Stock Price

Key Points

• JPMorgan lowered Weyerhaeuser’s price target from $31 to $28 while maintaining an “overweight” rating, implying 21.58% upside from the prior close.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $28.67, despite several firms adjusting their targets.
• Weyerhaeuser shares fell 0.7% to $23.03. The company recently exceeded quarterly EPS expectations, reporting $0.13 versus the $0.08 consensus, although revenue declined 8.3% year over year.

Weyerhaeuser (NYSE:WY - Get Free Report) had its price target dropped by JPMorgan Chase & Co. from $31.00 to $28.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 21.58% from the stock's previous close.

WY has been the subject of a number of other research reports. Weiss Ratings upgraded Weyerhaeuser from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 3rd. Citigroup cut their target price on Weyerhaeuser from $30.00 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Truist Financial restated a "hold" rating and set a $28.00 price target (up from $27.00) on shares of Weyerhaeuser in a report on Monday, August 3rd. DA Davidson reaffirmed a "buy" rating and issued a $31.00 price target on shares of Weyerhaeuser in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $30.00 price target on shares of Weyerhaeuser in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.67.

Weyerhaeuser Stock Down 0.7%

WY traded down $0.16 during midday trading on Thursday, reaching $23.03. The company's stock had a trading volume of 5,349,433 shares, compared to its average volume of 5,816,777. Weyerhaeuser has a 1 year low of $21.16 and a 1 year high of $27.75. The stock's 50-day moving average is $24.21 and its 200-day moving average is $24.28. The firm has a market capitalization of $16.60 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.26 and a beta of 0.87. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.05. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the business earned $0.12 earnings per share. The business's revenue was down 8.3% on a year-over-year basis. As a group, research analysts expect that Weyerhaeuser will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Weyerhaeuser

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blume Capital Management Inc. lifted its holdings in Weyerhaeuser by 35.8% in the 4th quarter. Blume Capital Management Inc. now owns 186,973 shares of the real estate investment trust's stock worth $4,429,000 after purchasing an additional 49,275 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Weyerhaeuser during the 4th quarter valued at approximately $6,614,000. Pacific Heights Asset Management LLC raised its position in shares of Weyerhaeuser by 71.4% during the fourth quarter. Pacific Heights Asset Management LLC now owns 600,000 shares of the real estate investment trust's stock valued at $14,214,000 after buying an additional 250,000 shares during the last quarter. Swedbank AB raised its position in shares of Weyerhaeuser by 11.1% during the fourth quarter. Swedbank AB now owns 969,745 shares of the real estate investment trust's stock valued at $22,973,000 after buying an additional 96,744 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Weyerhaeuser by 3.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,519,262 shares of the real estate investment trust's stock worth $36,158,000 after buying an additional 43,656 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

About Weyerhaeuser

Weyerhaeuser Company NYSE: WY is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source