Truist Financial Cuts Weyerhaeuser (NYSE:WY) Price Target to $29.00

Key Points

• Truist Financial has lowered its price target for Weyerhaeuser from $30.00 to $29.00, indicating a 10.50% potential upside from the company's previous close.
• Weyerhaeuser's recent quarterly earnings showed a net margin of 3.97% and a decrease in revenue compared to the same quarter last year, with earnings per share exceeding estimates.
• The company announced a $1.00 billion stock buyback plan, signaling confidence in its shares being undervalued, while hedge funds continue to hold 82.99% of the company's stock.

Weyerhaeuser (NYSE:WY - Get Free Report) had its target price cut by investment analysts at Truist Financial from $30.00 to $29.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "hold" rating on the real estate investment trust's stock. Truist Financial's price objective would suggest a potential upside of 10.50% from the company's previous close.

A number of other brokerages have also recently issued reports on WY. CIBC decreased 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. Citigroup decreased 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. Wall Street Zen upgraded shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a report on Saturday. The Goldman Sachs Group cut shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. Finally, DA Davidson decreased their price target on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $32.88.

Weyerhaeuser Stock Down 0.9%

Shares of NYSE WY traded down $0.23 during mid-day trading on Monday, reaching $26.25. The company had a trading volume of 1,227,082 shares, compared to its average volume of 4,068,717. Weyerhaeuser has a twelve month low of $24.10 and a twelve month high of $34.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04. The stock has a market capitalization of $19.03 billion, a PE ratio of 69.07, a price-to-earnings-growth ratio of 57.18 and a beta of 1.14. The stock's 50 day moving average is $26.12 and its 200-day moving average is $27.62.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.94 billion. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. Weyerhaeuser's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 earnings per share. As a group, equities analysts anticipate that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser announced that its board has authorized a stock buyback plan on Thursday, May 8th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. South Plains Financial Inc. acquired a new stake in shares of Weyerhaeuser during the fourth quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Weyerhaeuser during the fourth quarter worth approximately $27,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Weyerhaeuser during the first quarter worth approximately $29,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Weyerhaeuser during the first quarter worth approximately $31,000. Finally, Costello Asset Management INC acquired a new stake in shares of Weyerhaeuser during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 82.99% of the company's stock.

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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