DA Davidson Issues Pessimistic Forecast for Weyerhaeuser (NYSE:WY) Stock Price

Weyerhaeuser (NYSE:WY - Get Free Report) had its target price cut by stock analysts at DA Davidson from $36.00 to $35.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the real estate investment trust's stock. DA Davidson's price objective would indicate a potential upside of 34.94% from the company's previous close.

Several other research firms also recently commented on WY. The Goldman Sachs Group downgraded shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. Citigroup dropped their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. CIBC dropped their price objective on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a report on Tuesday, April 22nd. Finally, Truist Financial decreased their target price on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Weyerhaeuser currently has an average rating of "Moderate Buy" and an average target price of $33.00.

Weyerhaeuser Stock Up 3.5%

Shares of WY traded up $0.89 during mid-day trading on Tuesday, reaching $25.94. The company had a trading volume of 2,595,036 shares, compared to its average volume of 3,867,085. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.26 and a current ratio of 2.04. The firm has a 50-day moving average price of $26.19 and a 200 day moving average price of $27.69. Weyerhaeuser has a 52 week low of $24.10 and a 52 week high of $34.03. The company has a market capitalization of $18.81 billion, a price-to-earnings ratio of 51.85, a price-to-earnings-growth ratio of 42.52 and a beta of 1.14.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, hitting analysts' consensus estimates of $0.11. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business earned $0.16 EPS. The firm's revenue for the quarter was down 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Weyerhaeuser will post 0.78 EPS for the current year.

Weyerhaeuser declared that its Board of Directors has approved a stock repurchase program on Thursday, May 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Weyerhaeuser

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Weyerhaeuser during the 4th quarter worth $638,470,000. Cohen & Steers Inc. lifted its stake in shares of Weyerhaeuser by 57.5% in the 4th quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust's stock worth $1,095,726,000 after acquiring an additional 14,213,243 shares during the period. Nuveen LLC acquired a new stake in shares of Weyerhaeuser in the 1st quarter worth $107,330,000. Millennium Management LLC lifted its stake in shares of Weyerhaeuser by 2,952.7% in the 1st quarter. Millennium Management LLC now owns 3,130,367 shares of the real estate investment trust's stock worth $91,657,000 after acquiring an additional 3,027,823 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Weyerhaeuser by 63.9% in the 1st quarter. Bank of New York Mellon Corp now owns 7,265,484 shares of the real estate investment trust's stock worth $212,733,000 after acquiring an additional 2,833,288 shares during the period. 82.99% of the stock is currently owned by institutional investors and hedge funds.

About Weyerhaeuser

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.

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