West Fraser Timber (NYSE:WFG) Given New $100.00 Price Target at Scotiabank

West Fraser Timber (NYSE:WFG) had its target price lowered by equities researchers at Scotiabank from $109.00 to $100.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 26.69% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. BMO Capital Markets boosted their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. TD Securities lowered their price objective on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Finally, Raymond James decreased their price target on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $106.00.

West Fraser Timber Stock Performance

WFG stock opened at $78.93 on Tuesday. The stock has a market capitalization of $6.13 billion, a P/E ratio of -375.87 and a beta of 1.22. West Fraser Timber has a one year low of $73.91 and a one year high of $102.40. The company has a 50 day moving average price of $86.61 and a two-hundred day moving average price of $90.51.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.63. West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. Research analysts forecast that West Fraser Timber will post 5.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On West Fraser Timber

A number of institutional investors have recently modified their holdings of the business. FIL Ltd grew its position in West Fraser Timber by 35.5% in the 4th quarter. FIL Ltd now owns 5,041,873 shares of the company’s stock worth $436,861,000 after purchasing an additional 1,319,843 shares during the last quarter. Royal Bank of Canada grew its position in West Fraser Timber by 0.3% in the 4th quarter. Royal Bank of Canada now owns 2,980,619 shares of the company’s stock worth $257,974,000 after purchasing an additional 8,760 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of West Fraser Timber by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,846,663 shares of the company’s stock valued at $246,652,000 after acquiring an additional 12,874 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of West Fraser Timber by 56.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company’s stock valued at $187,126,000 after acquiring an additional 780,313 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of West Fraser Timber by 22.5% in the third quarter. FMR LLC now owns 1,447,823 shares of the company’s stock valued at $141,047,000 after acquiring an additional 266,298 shares in the last quarter. Institutional investors own 40.23% of the company’s stock.

About West Fraser Timber

West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.