Weyerhaeuser (NYSE:WY) Given New $30.00 Price Target at Citigroup

Key Points

• Citigroup cut its price target on Weyerhaeuser from $32 to $30 but kept a "buy" rating, implying a potential upside of about 26.19% from the current share price.
• Overall analyst sentiment is mixed with a consensus of Hold and an average target of $28.50 (6 Buys, 4 Holds, 1 Sell), reflecting divergent views despite some buy-side support.
• Weyerhaeuser beat quarterly EPS estimates ($0.11 vs. $0.04) while revenue fell 2% YoY; the stock trades near $23.77, insiders recently bought shares, and institutional investors own roughly 83% of the company.

Weyerhaeuser (NYSE:WY - Get Free Report) had its price objective cut by stock analysts at Citigroup from $32.00 to $30.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the real estate investment trust's stock. Citigroup's target price suggests a potential upside of 26.19% from the company's current price.

Other analysts have also issued reports about the stock. Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a research report on Thursday, April 23rd. Weiss Ratings upgraded Weyerhaeuser from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, February 10th. Truist Financial reduced their target price on Weyerhaeuser from $29.00 to $28.00 and set a "hold" rating on the stock in a research note on Wednesday, April 15th. Wall Street Zen cut Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Saturday, February 21st. Finally, DA Davidson reissued a "buy" rating and set a $31.00 price target on shares of Weyerhaeuser in a research report on Monday. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $28.50.

Weyerhaeuser Price Performance

Shares of WY stock traded up $0.24 during mid-day trading on Tuesday, reaching $23.77. The stock had a trading volume of 1,058,359 shares, compared to its average volume of 6,217,015. The company has a market cap of $17.14 billion, a P/E ratio of 44.02, a price-to-earnings-growth ratio of 2.63 and a beta of 0.90. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. Weyerhaeuser has a 12-month low of $21.16 and a 12-month high of $27.86. The business has a 50-day simple moving average of $24.33 and a 200 day simple moving average of $24.20.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same period in the prior year, the company earned $0.11 EPS. The firm's revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that Weyerhaeuser will post 0.26 earnings per share for the current year.

Insider Activity at Weyerhaeuser

In other news, Director James Calvin O'rourke bought 4,000 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The shares were purchased at an average price of $25.35 per share, for a total transaction of $101,400.00. Following the completion of the transaction, the director owned 28,661 shares in the company, valued at $726,556.35. The trade was a 16.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Beckwitt bought 20,000 shares of the stock in a transaction on Thursday, February 19th. The stock was purchased at an average cost of $25.70 per share, with a total value of $514,000.00. Following the completion of the purchase, the director directly owned 24,066 shares in the company, valued at $618,496.20. This trade represents a 491.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Weyerhaeuser

Several institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC boosted its stake in Weyerhaeuser by 166.1% in the 4th quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust's stock worth $891,242,000 after buying an additional 23,485,504 shares during the last quarter. Norges Bank acquired a new position in shares of Weyerhaeuser during the 4th quarter valued at about $549,531,000. Manning & Napier Advisors LLC acquired a new position in shares of Weyerhaeuser during the 1st quarter valued at about $101,969,000. Freestone Grove Partners LP increased its stake in shares of Weyerhaeuser by 124.5% during the 3rd quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust's stock valued at $166,030,000 after acquiring an additional 3,713,932 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Weyerhaeuser by 6.3% during the 3rd quarter. Wellington Management Group LLP now owns 39,646,897 shares of the real estate investment trust's stock worth $982,847,000 after acquiring an additional 2,343,724 shares during the period. 82.99% of the stock is currently owned by institutional investors and hedge funds.

About Weyerhaeuser

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.

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