West Fraser Timber (NYSE:WFG) Lowered to "Sell" Rating by Wall Street Zen

Wall Street Zen lowered shares of West Fraser Timber (NYSE:WFG - Free Report) from a hold rating to a sell rating in a report issued on Friday morning.

A number of other research firms have also issued reports on WFG. TD Securities reduced their target price on shares of West Fraser Timber from $99.00 to $98.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Royal Bank Of Canada dropped their target price on shares of West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Raymond James Financial lowered their price target on West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.40.

West Fraser Timber Trading Up 2.5%

Shares of NYSE:WFG traded up $1.81 on Friday, hitting $74.35. 87,211 shares of the company were exchanged, compared to its average volume of 174,855. West Fraser Timber has a 1-year low of $69.48 and a 1-year high of $102.40. The stock's 50 day moving average price is $74.73 and its 200 day moving average price is $77.88. The firm has a market capitalization of $5.70 billion, a P/E ratio of -437.15 and a beta of 1.15.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings data 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). West Fraser Timber had a net margin of 0.03% and a return on equity of 0.99%. The business had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.53 billion. On average, equities analysts predict that West Fraser Timber will post 4.45 EPS for the current fiscal year.

West Fraser Timber Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Thursday, June 26th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.28 dividend on an annualized basis and a yield of 1.72%. West Fraser Timber's dividend payout ratio is presently -752.94%.

Hedge Funds Weigh In On West Fraser Timber

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WFG. Ameritas Advisory Services LLC acquired a new position in shares of West Fraser Timber in the 2nd quarter valued at approximately $27,000. Union Bancaire Privee UBP SA boosted its stake in West Fraser Timber by 3.6% in the second quarter. Union Bancaire Privee UBP SA now owns 11,373 shares of the company's stock valued at $844,000 after buying an additional 398 shares in the last quarter. Parallel Advisors LLC raised its position in shares of West Fraser Timber by 265.1% during the second quarter. Parallel Advisors LLC now owns 398 shares of the company's stock worth $29,000 after acquiring an additional 289 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in West Fraser Timber by 3.0% in the first quarter. Goldman Sachs Group Inc. now owns 230,878 shares of the company's stock worth $17,764,000 after purchasing an additional 6,640 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of West Fraser Timber by 42,553.8% during the first quarter. Jones Financial Companies Lllp now owns 22,180 shares of the company's stock valued at $1,707,000 after buying an additional 22,128 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company's stock.

West Fraser Timber Company Profile

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.