West Fraser Timber (NYSE:WFG) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded West Fraser Timber from “sell” to “hold.” Despite mixed opinions, analysts collectively rate the stock “Moderate Buy,” with an average price target of $83.80.
• West Fraser Timber’s shares opened at $67.09, down 1.6%, while the company reported a quarterly loss of $1.03 per share—worse than the expected $0.84 loss—and revenue of $1.36 billion, below estimates.
• Institutional investors own 40.23% of the company, with several hedge funds recently increasing their positions or initiating new holdings.

West Fraser Timber (NYSE:WFG - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

Other analysts have also recently issued research reports about the company. Raymond James Financial decreased their target price on West Fraser Timber from $85.00 to $80.00 and set an "outperform" rating on the stock in a report on Thursday. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of West Fraser Timber in a report on Friday, July 31st. TD Securities reiterated a "buy" rating on shares of West Fraser Timber in a research report on Friday, July 31st. Cantor Fitzgerald raised shares of West Fraser Timber to a "buy" rating in a report on Thursday. Finally, Royal Bank Of Canada lowered their price objective on shares of West Fraser Timber from $83.00 to $81.00 and set an "outperform" rating for the company in a research report on Friday, October 16th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $83.80.

West Fraser Timber Stock Down 1.6%

NYSE WFG opened at $67.09 on Friday. The firm has a market cap of $5.25 billion, a PE ratio of -4.85 and a beta of 1.06. West Fraser Timber has a one year low of $57.34 and a one year high of $76.99. The stock's 50 day simple moving average is $68.32 and its 200 day simple moving average is $67.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.06 and a quick ratio of 0.83.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported ($1.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.19). West Fraser Timber had a negative net margin of 20.39% and a negative return on equity of 9.10%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.42 billion. As a group, sell-side analysts forecast that West Fraser Timber will post -3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC raised its position in shares of West Fraser Timber by 72.2% during the first quarter. Parallel Advisors LLC now owns 439 shares of the company's stock worth $29,000 after acquiring an additional 184 shares during the last quarter. EFG International AG bought a new position in West Fraser Timber in the second quarter valued at about $34,000. Physician Wealth Advisors Inc. boosted its holdings in West Fraser Timber by 177.0% in the first quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company's stock valued at $38,000 after acquiring an additional 370 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in West Fraser Timber in the second quarter valued at about $40,000. Finally, Farther Finance Advisors LLC boosted its holdings in West Fraser Timber by 4,072.2% in the third quarter. Farther Finance Advisors LLC now owns 751 shares of the company's stock valued at $52,000 after acquiring an additional 733 shares during the last quarter. 40.23% of the stock is currently owned by institutional investors.

About West Fraser Timber

West Fraser Timber Co Ltd. is a diversified wood products company that manufactures and sells building materials for residential, commercial and industrial applications. Its principal products include lumber, oriented strand board, laminated veneer lumber and other engineered wood products used in construction, remodeling and manufacturing.

The company operates wood product manufacturing facilities and manages timber resources across Canada and the United States, with a significant presence in Western Canada and the U.S.

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