West Fraser Timber (NYSE:WFG) Price Target Raised to $120.00 at Scotiabank

West Fraser Timber (NYSE:WFG - Get Free Report) had its price target lifted by analysts at Scotiabank from $100.00 to $120.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's target price indicates a potential upside of 23.29% from the stock's previous close. Scotiabank also issued estimates for West Fraser Timber's Q3 2024 earnings at ($0.45) EPS.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada raised their price target on West Fraser Timber from $97.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, July 26th. BMO Capital Markets raised their price target on West Fraser Timber from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $111.60.

West Fraser Timber Stock Up 1.9 %

West Fraser Timber stock traded up $1.83 on Friday, hitting $97.33. 271,930 shares of the stock traded hands, compared to its average volume of 159,954. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03. The firm has a market cap of $7.68 billion, a P/E ratio of -80.89 and a beta of 1.16. The business's fifty day simple moving average is $92.90 and its 200 day simple moving average is $84.40. West Fraser Timber has a 1 year low of $64.11 and a 1 year high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.87). The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.45 billion. West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. During the same period in the prior year, the business posted $1.81 EPS. As a group, sell-side analysts forecast that West Fraser Timber will post 2.03 earnings per share for the current year.

Institutional Investors Weigh In On West Fraser Timber

Several large investors have recently bought and sold shares of the business. Toronto Dominion Bank increased its holdings in West Fraser Timber by 0.4% in the 2nd quarter. Toronto Dominion Bank now owns 30,040 shares of the company's stock worth $2,309,000 after buying an additional 125 shares in the last quarter. Signaturefd LLC increased its holdings in West Fraser Timber by 60.0% in the 2nd quarter. Signaturefd LLC now owns 496 shares of the company's stock worth $38,000 after buying an additional 186 shares in the last quarter. Inspire Advisors LLC boosted its position in West Fraser Timber by 4.3% in the second quarter. Inspire Advisors LLC now owns 4,592 shares of the company's stock worth $353,000 after purchasing an additional 189 shares during the last quarter. Moors & Cabot Inc. boosted its position in West Fraser Timber by 4.7% in the second quarter. Moors & Cabot Inc. now owns 4,270 shares of the company's stock worth $328,000 after purchasing an additional 190 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. boosted its position in West Fraser Timber by 6.9% in the first quarter. Bank of Nova Scotia Trust Co. now owns 3,472 shares of the company's stock worth $300,000 after purchasing an additional 224 shares during the last quarter. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Company Profile

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.