JPMorgan Chase & Co. Issues Pessimistic Forecast for Weyerhaeuser (NYSE:WY) Stock Price

Key Points

• JPMorgan Chase cut its price target on Weyerhaeuser from $32 to $30, while keeping an overweight rating. The new target still implies about 28.6% upside from the stock’s current price.
• Analyst sentiment is mixed: several firms recently adjusted views and targets, and MarketBeat shows a consensus Hold rating with an average price target of $28.88.
• Weyerhaeuser beat quarterly earnings estimates, posting $0.11 EPS versus the expected $0.04, and revenue of $1.73 billion came in slightly above forecasts. The stock was trading around $23.33, below both JPMorgan’s target and the 52-week high of $27.86.

Weyerhaeuser (NYSE:WY - Get Free Report) had its target price decreased by research analysts at JPMorgan Chase & Co. from $32.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 28.57% from the stock's current price.

A number of other research firms have also recently commented on WY. Wall Street Zen raised shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings upgraded Weyerhaeuser from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce set a $28.00 price objective on Weyerhaeuser in a research report on Thursday, April 23rd. Citigroup lowered their price objective on Weyerhaeuser from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. Finally, DA Davidson reissued a "buy" rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research report on Monday, May 4th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Weyerhaeuser has an average rating of "Hold" and a consensus price target of $28.88.

Weyerhaeuser Stock Performance

NYSE:WY traded up $0.23 during mid-day trading on Thursday, reaching $23.33. 2,074,633 shares of the company's stock were exchanged, compared to its average volume of 6,173,819. Weyerhaeuser has a one year low of $21.16 and a one year high of $27.86. The firm has a market capitalization of $16.82 billion, a PE ratio of 43.29, a price-to-earnings-growth ratio of 1.49 and a beta of 0.90. The business's fifty day simple moving average is $24.16 and its two-hundred day simple moving average is $24.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.07. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The company's revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. Analysts anticipate that Weyerhaeuser will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In other Weyerhaeuser news, Director James Calvin O'rourke purchased 4,000 shares of the company's stock in a transaction that occurred on Friday, February 20th. The shares were acquired at an average price of $25.35 per share, with a total value of $101,400.00. Following the transaction, the director owned 28,661 shares in the company, valued at $726,556.35. The trade was a 16.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Beckwitt bought 20,000 shares of Weyerhaeuser stock in a transaction dated Thursday, February 19th. The stock was purchased at an average price of $25.70 per share, with a total value of $514,000.00. Following the purchase, the director owned 24,066 shares in the company, valued at approximately $618,496.20. This represents a 491.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Weyerhaeuser

Several institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH increased its holdings in Weyerhaeuser by 27.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,881,226 shares of the real estate investment trust's stock worth $46,636,000 after acquiring an additional 405,575 shares during the period. Citigroup Inc. lifted its holdings in shares of Weyerhaeuser by 68.5% in the 3rd quarter. Citigroup Inc. now owns 1,647,285 shares of the real estate investment trust's stock worth $40,836,000 after acquiring an additional 669,451 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Weyerhaeuser by 2.0% in the 3rd quarter. Nordea Investment Management AB now owns 2,322,728 shares of the real estate investment trust's stock worth $57,278,000 after acquiring an additional 46,207 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Weyerhaeuser by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 3,675,994 shares of the real estate investment trust's stock worth $91,128,000 after acquiring an additional 97,769 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV bought a new stake in shares of Weyerhaeuser in the 3rd quarter worth approximately $1,154,000. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Company Profile

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.

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