Weyerhaeuser (NYSE:WY) Rating Increased to Strong-Buy at Cibc World Mkts

Weyerhaeuser (NYSE:WY - Get Free Report) was upgraded by investment analysts at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

Several other research firms have also issued reports on WY. Truist Financial dropped their target price on shares of Weyerhaeuser from $34.00 to $33.00 and set a "hold" rating on the stock in a report on Monday, January 6th. StockNews.com raised Weyerhaeuser from a "sell" rating to a "hold" rating in a research note on Monday, December 16th. CIBC upgraded Weyerhaeuser from a "neutral" rating to an "outperformer" rating and set a $35.00 target price on the stock in a research report on Wednesday. Raymond James upgraded Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $32.00 target price for the company in a report on Monday, December 23rd. Finally, Citigroup dropped their price target on Weyerhaeuser from $38.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Weyerhaeuser has a consensus rating of "Moderate Buy" and an average target price of $35.14.

Weyerhaeuser Trading Up 1.6 %

Shares of Weyerhaeuser stock traded up $0.48 during midday trading on Wednesday, reaching $30.04. The company had a trading volume of 2,706,141 shares, compared to its average volume of 3,562,854. The stock has a fifty day moving average price of $29.88 and a 200 day moving average price of $30.72. Weyerhaeuser has a fifty-two week low of $26.73 and a fifty-two week high of $36.27. The firm has a market cap of $21.83 billion, a PE ratio of 40.59 and a beta of 1.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.01 and a quick ratio of 1.41.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the business earned $0.33 EPS. The company's revenue was down 13.3% compared to the same quarter last year. On average, equities analysts anticipate that Weyerhaeuser will post 0.49 earnings per share for the current year.

Institutional Investors Weigh In On Weyerhaeuser

Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in Weyerhaeuser in the 2nd quarter valued at $333,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Weyerhaeuser by 31.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,178,841 shares of the real estate investment trust's stock valued at $90,247,000 after buying an additional 769,149 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Weyerhaeuser by 27.5% during the second quarter. Dimensional Fund Advisors LP now owns 565,350 shares of the real estate investment trust's stock valued at $16,050,000 after buying an additional 121,808 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Weyerhaeuser during the second quarter valued at about $1,218,000. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Weyerhaeuser by 0.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 231,278 shares of the real estate investment trust's stock worth $6,566,000 after acquiring an additional 2,048 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company's stock.

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.