Weyerhaeuser (NYSE:WY) Price Target Cut to $28.00 by Analysts at Truist Financial

Key Points

• Truist Financial cut its price target on Weyerhaeuser from $29 to $28 and kept a "hold" rating, implying roughly a 15% upside
• Weyerhaeuser reported quarterly EPS of ($0.09), beating estimates of ($0.13) while revenue of $1.54 billion missed expectations and was down 9.8% year-over-year, with shares trading around $24.35.
• Company insiders (notably Director Richard Beckwitt) purchased shares in February and institutional investors now own about 83% of the stock, signaling notable insider and institutional accumulation.

Weyerhaeuser (NYSE:WY - Get Free Report) had its target price reduced by equities research analysts at Truist Financial from $29.00 to $28.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the real estate investment trust's stock. Truist Financial's price objective indicates a potential upside of 15.01% from the company's current price.

A number of other equities analysts have also recently issued reports on the company. Citigroup upped their target price on Weyerhaeuser from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, February 13th. Wall Street Zen cut Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Weiss Ratings raised Weyerhaeuser from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, February 10th. Finally, DA Davidson reissued a "buy" rating and set a $31.00 price objective on shares of Weyerhaeuser in a report on Tuesday, March 31st. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Weyerhaeuser currently has a consensus rating of "Hold" and an average target price of $28.75.

Weyerhaeuser Price Performance

Shares of Weyerhaeuser stock traded down $0.44 during trading on Wednesday, reaching $24.35. 1,020,056 shares of the company's stock were exchanged, compared to its average volume of 6,394,073. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.83 and a current ratio of 1.29. Weyerhaeuser has a 1-year low of $21.16 and a 1-year high of $27.86. The company has a market cap of $17.55 billion, a P/E ratio of 55.33, a PEG ratio of 2.67 and a beta of 0.98. The firm's 50-day moving average price is $24.78 and its 200 day moving average price is $24.18.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.04. Weyerhaeuser had a return on equity of 1.50% and a net margin of 4.69%.The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the firm earned $0.11 EPS. Weyerhaeuser's revenue was down 9.8% on a year-over-year basis. As a group, research analysts anticipate that Weyerhaeuser will post 0.78 earnings per share for the current year.

Insider Activity

In related news, Director Richard Beckwitt purchased 20,000 shares of Weyerhaeuser stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average price of $25.70 per share, for a total transaction of $514,000.00. Following the transaction, the director directly owned 24,066 shares in the company, valued at approximately $618,496.20. This trade represents a 491.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Calvin O'rourke acquired 4,000 shares of the business's stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $25.35 per share, with a total value of $101,400.00. Following the acquisition, the director owned 28,661 shares in the company, valued at $726,556.35. The trade was a 16.22% increase in their position. The SEC filing for this purchase provides additional information. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Weyerhaeuser

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH raised its holdings in shares of Weyerhaeuser by 27.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,881,226 shares of the real estate investment trust's stock valued at $46,636,000 after purchasing an additional 405,575 shares in the last quarter. Citigroup Inc. raised its stake in Weyerhaeuser by 68.5% during the 3rd quarter. Citigroup Inc. now owns 1,647,285 shares of the real estate investment trust's stock worth $40,836,000 after acquiring an additional 669,451 shares in the last quarter. Nordea Investment Management AB raised its stake in Weyerhaeuser by 2.0% during the 3rd quarter. Nordea Investment Management AB now owns 2,322,728 shares of the real estate investment trust's stock worth $57,278,000 after acquiring an additional 46,207 shares in the last quarter. Principal Financial Group Inc. raised its stake in Weyerhaeuser by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 3,675,994 shares of the real estate investment trust's stock worth $91,128,000 after acquiring an additional 97,769 shares in the last quarter. Finally, Cambria Investment Management L.P. acquired a new stake in Weyerhaeuser during the 3rd quarter worth $1,265,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

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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