West Fraser Timber (TSE:WFG) Shares Down 2.6% - Here's Why

Key Points

• West Fraser Timber Co. Ltd. (TSE:WFG) experienced a 2.6% decline in stock price, trading as low as C$99.75 on Wednesday, with increased trading volume reaching approximately 293,649 shares.
• Analyst sentiment has shifted, with Raymond James downgrading West Fraser from a "moderate buy" to a "hold" rating, although the stock maintains a consensus rating of "Moderate Buy" with a price target of C$142.00.
• The company has a debt-to-equity ratio of 7.39 and a market capitalization of C$5.56 billion, indicating relatively high leverage in its financial structure.

Shares of West Fraser Timber Co. Ltd. (TSE:WFG - Get Free Report) dropped 2.6% during mid-day trading on Wednesday . The company traded as low as C$99.75 and last traded at C$99.82. Approximately 293,649 shares were traded during mid-day trading, an increase of 58% from the average daily volume of 185,539 shares. The stock had previously closed at C$102.45.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial cut shares of West Fraser Timber from a "moderate buy" rating to a "hold" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$142.00.

West Fraser Timber Stock Performance

The stock's 50-day simple moving average is C$101.01 and its 200-day simple moving average is C$104.68. The stock has a market cap of C$5.76 billion, a price-to-earnings ratio of -61.83 and a beta of 2.03. The company has a current ratio of 1.82, a quick ratio of 2.10 and a debt-to-equity ratio of 7.39.

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.