Royal Bank Of Canada Has Lowered Expectations for West Fraser Timber (NYSE:WFG) Stock Price

Key Points

• Royal Bank of Canada has lowered its price target for West Fraser Timber from $97.00 to $92.00, while maintaining an "outperform" rating, indicating a potential upside of 39.80% from the current stock price.
• Multiple analysts have recently issued varying ratings on West Fraser Timber, resulting in a consensus rating of "Hold" with an average target price of $94.60.
• West Fraser Timber experienced a decline in stock price, trading at $65.81, and reported a quarterly loss of ($0.38) per share, missing analyst expectations.

West Fraser Timber (NYSE:WFG - Get Free Report) had its target price cut by Royal Bank Of Canada from $97.00 to $92.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 39.80% from the company's current price.

Other analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of West Fraser Timber in a research report on Wednesday, October 8th. TD Securities decreased their price target on shares of West Fraser Timber from $98.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Raymond James Financial decreased their price objective on shares of West Fraser Timber from $75.00 to $70.00 and set a "market perform" rating for the company in a research report on Wednesday, October 15th. Wall Street Zen cut shares of West Fraser Timber from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Zacks Research raised shares of West Fraser Timber from a "strong sell" rating to a "hold" rating in a research report on Friday, September 26th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $94.60.

West Fraser Timber Price Performance

Shares of West Fraser Timber stock traded down $1.05 during trading on Monday, hitting $65.81. 109,498 shares of the company were exchanged, compared to its average volume of 214,997. The company has a quick ratio of 1.61, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. West Fraser Timber has a fifty-two week low of $65.66 and a fifty-two week high of $100.33. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of -37.56 and a beta of 1.13. The firm has a 50 day moving average price of $71.57 and a 200 day moving average price of $73.10.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.74). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.61 billion. West Fraser Timber had a negative net margin of 2.18% and a negative return on equity of 0.85%. On average, equities analysts expect that West Fraser Timber will post 4.45 earnings per share for the current fiscal year.

Institutional Trading of West Fraser Timber

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of West Fraser Timber by 7,588.9% during the first quarter. GAMMA Investing LLC now owns 692 shares of the company's stock worth $53,000 after purchasing an additional 683 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in West Fraser Timber by 6.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company's stock worth $216,000 after purchasing an additional 181 shares during the period. Wealthquest Corp bought a new stake in shares of West Fraser Timber during the first quarter worth $2,188,000. Principal Financial Group Inc. increased its position in shares of West Fraser Timber by 33.3% during the first quarter. Principal Financial Group Inc. now owns 16,263 shares of the company's stock worth $1,249,000 after acquiring an additional 4,061 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of West Fraser Timber by 13.3% during the first quarter. Envestnet Asset Management Inc. now owns 27,855 shares of the company's stock worth $2,141,000 after acquiring an additional 3,266 shares in the last quarter. Institutional investors own 40.23% of the company's stock.

About West Fraser Timber

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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