Truist Financial Cuts Weyerhaeuser (NYSE:WY) Price Target to $33.00

Weyerhaeuser (NYSE:WY - Get Free Report) had its target price dropped by equities researchers at Truist Financial from $34.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the real estate investment trust's stock. Truist Financial's target price would suggest a potential upside of 15.83% from the stock's current price.

A number of other research firms have also weighed in on WY. Raymond James upgraded Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $32.00 price objective for the company in a research note on Monday, December 23rd. BMO Capital Markets raised Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $38.00 price target for the company in a report on Friday, December 6th. Finally, StockNews.com raised shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.57.

Weyerhaeuser Stock Performance

Shares of Weyerhaeuser stock traded up $0.13 on Monday, reaching $28.49. 2,886,820 shares of the stock were exchanged, compared to its average volume of 3,221,905. Weyerhaeuser has a twelve month low of $26.73 and a twelve month high of $36.27. The business has a 50 day moving average price of $30.33 and a two-hundred day moving average price of $30.75. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $20.70 billion, a price-to-earnings ratio of 38.50 and a beta of 1.42.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm earned $0.33 EPS. The business's revenue for the quarter was down 13.3% on a year-over-year basis. Analysts anticipate that Weyerhaeuser will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weyerhaeuser

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of Weyerhaeuser by 12.7% during the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust's stock worth $1,210,694,000 after purchasing an additional 4,035,048 shares during the last quarter. State Street Corp raised its holdings in shares of Weyerhaeuser by 2.5% during the third quarter. State Street Corp now owns 31,407,646 shares of the real estate investment trust's stock valued at $1,063,463,000 after acquiring an additional 761,757 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Weyerhaeuser by 1.1% in the third quarter. Geode Capital Management LLC now owns 19,534,058 shares of the real estate investment trust's stock valued at $659,422,000 after acquiring an additional 217,510 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Weyerhaeuser by 4.6% in the second quarter. Legal & General Group Plc now owns 11,428,336 shares of the real estate investment trust's stock worth $324,450,000 after acquiring an additional 503,059 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Weyerhaeuser by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,740,119 shares of the real estate investment trust's stock worth $295,940,000 after purchasing an additional 454,095 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

About Weyerhaeuser

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.