Weyerhaeuser (NYSE:WY) Stock Gets Price Target Trim from Truist Financial

Key Points

• Truist Financial lowered Weyerhaeuser’s price target from $28 to $24 while maintaining a “hold” rating, implying about 26.7% upside from the stock’s $18.95 price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $27.33, despite recent target cuts from several firms.
• Weyerhaeuser’s latest quarterly results exceeded expectations, with EPS of $0.13 versus $0.08 expected and revenue of $1.87 billion, although revenue declined 8.3% year over year.

Weyerhaeuser (NYSE:WY - Get Free Report) had its price objective lowered by research analysts at Truist Financial from $28.00 to $24.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a "hold" rating on the real estate investment trust's stock. Truist Financial's target price points to a potential upside of 26.68% from the company's current price.

WY has been the subject of several other reports. Wall Street Zen raised shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a research report on Sunday, August 2nd. DA Davidson reaffirmed a "buy" rating and issued a $31.00 price target on shares of Weyerhaeuser in a report on Tuesday, June 30th. Seaport Research Partners set a $30.00 price target on shares of Weyerhaeuser in a research note on Thursday. Citigroup cut their price objective on shares of Weyerhaeuser from $29.00 to $21.00 and set a "buy" rating on the stock in a report on Monday, October 5th. Finally, Weiss Ratings cut shares of Weyerhaeuser from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.33.

Weyerhaeuser Stock Down 0.8%

Shares of WY traded down $0.15 during mid-day trading on Monday, hitting $18.95. 3,517,081 shares of the company's stock were exchanged, compared to its average volume of 6,141,254. The stock's 50-day moving average is $22.50 and its 200-day moving average is $23.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.82. Weyerhaeuser has a fifty-two week low of $18.25 and a fifty-two week high of $27.75. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 29.16, a P/E/G ratio of 2.15 and a beta of 0.92.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.05. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The firm's revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS. On average, sell-side analysts anticipate that Weyerhaeuser will post 0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Weyerhaeuser

A number of hedge funds and other institutional investors have recently bought and sold shares of WY. Assenagon Asset Management S.A. increased its position in Weyerhaeuser by 524.8% during the second quarter. Assenagon Asset Management S.A. now owns 176,165 shares of the real estate investment trust's stock worth $4,217,000 after purchasing an additional 147,971 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Weyerhaeuser by 23.0% in the 2nd quarter. Hsbc Holdings PLC now owns 1,636,104 shares of the real estate investment trust's stock valued at $39,100,000 after purchasing an additional 305,983 shares during the last quarter. Markel Group Inc. grew its stake in shares of 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 buying an additional 102,500 shares during the period. SFE Investment Counsel grew its stake in shares of 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 buying an additional 50,880 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in shares of 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 buying an additional 4,885,818 shares during the period. Institutional investors and hedge funds own 82.99% of the company's stock.

About Weyerhaeuser

Weyerhaeuser NYSE: WY is one of the world's largest private owners of timberlands and a major producer of forest products. The company owns and manages timberlands in the United States and operates manufacturing facilities in the United States and Canada, serving residential, commercial and industrial markets.

Its principal products include lumber, structural panels, engineered wood products and other materials used in homebuilding and construction. Weyerhaeuser also manages its timberlands for sustainable wood production and generates revenue from real estate, energy and natural-resource activities associated with those properties.

Founded in 1900, Weyerhaeuser has developed from a regional timber company into an integrated forest-products business.

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