Weyerhaeuser (NYSE:WY) Price Target Cut to $31.00 by Analysts at CIBC

Key Points

• CIBC has lowered Weyerhaeuser's price target from $32.00 to $31.00, while maintaining an "outperformer" rating, suggesting a potential upside of 19.76% from the current price.
• Other analysts have also reduced their price targets, with Citigroup setting a target of $31.00 and Truist Financial decreasing theirs to $29.00, indicating a cautious outlook among brokerage firms.
• Weyerhaeuser shares have been trading up, reaching $25.89, with a market cap of $18.68 billion, though its revenue declined 2.8% year-over-year during its last quarter.

Weyerhaeuser (NYSE:WY - Get Free Report) had its price objective dropped by stock analysts at CIBC from $32.00 to $31.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperformer" rating on the real estate investment trust's stock. CIBC's price objective points to a potential upside of 19.76% from the company's current price.

A number of other research firms also recently weighed in on WY. Citigroup cut their price target on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a report on Tuesday, June 3rd. Truist Financial cut their target price on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating on the stock in a report on Monday, July 28th. Wall Street Zen lowered Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. DA Davidson reduced their price objective on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.75.

Weyerhaeuser Stock Up 3.1%

Shares of NYSE:WY traded up $0.79 during trading on Thursday, reaching $25.89. 2,024,714 shares of the company traded hands, compared to its average volume of 4,056,096. The firm has a fifty day simple moving average of $25.80 and a 200 day simple moving average of $26.69. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. Weyerhaeuser has a 1-year low of $24.10 and a 1-year high of $34.03. The firm has a market cap of $18.68 billion, a P/E ratio of 68.09, a price-to-earnings-growth ratio of 79.92 and a beta of 1.07.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $0.21 earnings per share. Weyerhaeuser's quarterly revenue was down 2.8% compared to the same quarter last year. Analysts anticipate that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Weyerhaeuser news, Director Sara Grootwassink Lewis bought 4,000 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were bought at an average price of $25.29 per share, for a total transaction of $101,160.00. Following the completion of the acquisition, the director owned 21,478 shares of the company's stock, valued at approximately $543,178.62. This trade represents a 22.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Institutional Investors Weigh In On Weyerhaeuser

Institutional investors and hedge funds have recently made changes to their positions in the company. DAVENPORT & Co LLC grew its stake in shares of Weyerhaeuser by 8.0% during the first quarter. DAVENPORT & Co LLC now owns 19,932 shares of the real estate investment trust's stock worth $584,000 after purchasing an additional 1,480 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Weyerhaeuser by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,154 shares of the real estate investment trust's stock worth $2,171,000 after buying an additional 1,524 shares during the period. Farther Finance Advisors LLC grew its holdings in Weyerhaeuser by 232.0% during the first quarter. Farther Finance Advisors LLC now owns 9,476 shares of the real estate investment trust's stock valued at $276,000 after purchasing an additional 6,622 shares during the period. J.W. Cole Advisors Inc. increased its stake in Weyerhaeuser by 85.7% in the first quarter. J.W. Cole Advisors Inc. now owns 37,129 shares of the real estate investment trust's stock valued at $1,087,000 after purchasing an additional 17,132 shares in the last quarter. Finally, CX Institutional acquired a new stake in Weyerhaeuser in the first quarter worth $119,000. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Company Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.

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