West Fraser Timber (TSE:WFG) Shares Up 0.8% - Here's Why

Key Points

• West Fraser Timber's shares increased by 0.8%, trading at C$95.32 during mid-day, despite a 54% decline in trading volume compared to the average.
• CIBC has reduced its price target for West Fraser Timber from C$122.00 to C$119.00, while Raymond James downgraded the stock from a "moderate buy" to a "hold" rating.
• The company has a market cap of C$7.52 billion and a current ratio of 1.82, indicating solid liquidity despite a high debt-to-equity ratio of 7.39.

West Fraser Timber Co. Ltd. (TSE:WFG - Get Free Report) shares shot up 0.8% during mid-day trading on Thursday . The company traded as high as C$95.34 and last traded at C$95.32. 101,631 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 219,999 shares. The stock had previously closed at C$94.54.

Analyst Ratings Changes

A number of research firms recently issued reports on WFG. CIBC dropped their price objective on shares of West Fraser Timber from C$122.00 to C$119.00 and set an "outperform" rating on the stock in a report on Wednesday, September 10th. Raymond James Financial downgraded shares of West Fraser Timber from a "moderate buy" rating to a "hold" rating in a report on Monday, July 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, West Fraser Timber currently has a consensus rating of "Moderate Buy" and a consensus target price of C$119.00.

West Fraser Timber Price Performance

The company has a quick ratio of 2.10, a current ratio of 1.82 and a debt-to-equity ratio of 7.39. The firm has a market cap of C$7.52 billion, a PE ratio of -59.20 and a beta of 1.84. The firm's fifty day simple moving average is C$99.62 and its two-hundred day simple moving average is C$102.19.

West Fraser Timber Company Profile

West Fraser Timber CoLtd is a diversified wood products company with more than 60 facilities in Canada, the United States, the United Kingdom, and Europe. The Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, other residuals, and renewable energy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.