Raymond James Financial Inc. acquired a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,631 shares of the company's stock, valued at approximately $487,000.
A number of other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of West Fraser Timber in the fourth quarter valued at $35,000. Kestra Investment Management LLC acquired a new stake in shares of West Fraser Timber during the 4th quarter worth $39,000. Signaturefd LLC increased its holdings in West Fraser Timber by 22.5% in the 4th quarter. Signaturefd LLC now owns 1,078 shares of the company's stock valued at $93,000 after buying an additional 198 shares during the period. D.B. Root & Company LLC lifted its stake in West Fraser Timber by 24.0% during the fourth quarter. D.B. Root & Company LLC now owns 2,840 shares of the company's stock worth $246,000 after purchasing an additional 549 shares during the last quarter. Finally, Atria Wealth Solutions Inc. increased its position in West Fraser Timber by 4.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company's stock worth $250,000 after purchasing an additional 120 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors.
West Fraser Timber Price Performance
Shares of WFG stock traded down $2.29 on Wednesday, reaching $74.23. 73,861 shares of the company were exchanged, compared to its average volume of 198,876. The company has a 50-day moving average of $75.12 and a 200-day moving average of $83.69. The company has a market cap of $5.73 billion, a price-to-earnings ratio of -353.33 and a beta of 1.21. West Fraser Timber Co. Ltd. has a one year low of $69.48 and a one year high of $102.40.
West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.15). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.53 billion. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. As a group, sell-side analysts predict that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.
Wall Street Analysts Forecast Growth
WFG has been the topic of a number of research reports. Scotiabank reduced their target price on shares of West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating on the stock in a report on Tuesday, February 18th. Royal Bank of Canada reduced their target price on West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. TD Securities lowered their price target on shares of West Fraser Timber from $99.00 to $98.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Raymond James reduced their price objective on shares of West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $100.40.
Check Out Our Latest Report on WFG
West Fraser Timber Company Profile
(
Free Report)
West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.
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