Weyerhaeuser (NYSE:WY) Earns "Outperform" Rating from Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed its “outperform” rating on Weyerhaeuser and kept a $30 price target, implying about 22.7% upside from the prior close.
• Other analysts were mixed but generally constructive: recent moves included upgrades from Raymond James and Wall Street Zen, while Truist and Weiss were more cautious. Overall, Weyerhaeuser has a Moderate Buy consensus and an average target price of $29.
• Weyerhaeuser recently reported Q1 earnings of $0.11 per share, beating expectations, though revenue declined 2% year over year. The stock closed at $24.45, near its 50-day and 200-day moving averages.

Weyerhaeuser (NYSE:WY - Get Free Report)'s stock had its "outperform" rating reaffirmed by Royal Bank Of Canada in a note issued to investors on Friday,Benzinga reports. They currently have a $30.00 price target on the real estate investment trust's stock. Royal Bank Of Canada's target price would suggest a potential upside of 22.72% from the stock's previous close.

A number of other research firms have also recently weighed in on WY. Wall Street Zen raised Weyerhaeuser from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Raymond James Financial upgraded Weyerhaeuser from an "outperform" rating to a "strong-buy" rating and set a $30.00 price target for the company in a research note on Friday, July 10th. Truist Financial lowered their price objective on shares of Weyerhaeuser from $28.00 to $27.00 and set a "hold" rating on the stock in a research report on Wednesday. DA Davidson reissued a "buy" rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, June 30th. Finally, Weiss Ratings cut shares of Weyerhaeuser from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Weyerhaeuser currently has a consensus rating of "Moderate Buy" and an average target price of $29.00.

Weyerhaeuser Stock Performance

NYSE:WY traded down $0.01 during trading hours on Friday, reaching $24.45. 2,500,789 shares of the company's stock were exchanged, compared to its average volume of 5,970,265. Weyerhaeuser has a 1-year low of $21.16 and a 1-year high of $27.75. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $17.63 billion, a price-to-earnings ratio of 45.27, a P/E/G ratio of 1.28 and a beta of 0.89. The company has a 50-day moving average of $23.98 and a 200 day moving average of $24.62.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.07. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same period in the prior year, the company earned $0.11 earnings per share. The business's revenue was down 2.0% compared to the same quarter last year. Research analysts anticipate that Weyerhaeuser will post 0.32 EPS for the current year.

Institutional Trading of Weyerhaeuser

Institutional investors have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC lifted its position in shares of Weyerhaeuser by 166.1% during the 4th quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust's stock valued at $891,242,000 after acquiring an additional 23,485,504 shares during the period. Norges Bank acquired a new stake in shares of Weyerhaeuser in the 4th quarter worth approximately $549,531,000. Manning & Napier Advisors LLC purchased a new position in Weyerhaeuser in the 1st quarter valued at approximately $101,969,000. Freestone Grove Partners LP raised its holdings in Weyerhaeuser by 124.5% during the third quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust's stock worth $166,030,000 after purchasing an additional 3,713,932 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Weyerhaeuser by 16.9% during the first quarter. Bank of New York Mellon Corp now owns 17,717,871 shares of the real estate investment trust's stock worth $432,848,000 after purchasing an additional 2,555,687 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

Weyerhaeuser Company Profile

Weyerhaeuser Company NYSE: WY is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.