Raymond James Has Lowered Expectations for West Fraser Timber (NYSE:WFG) Stock Price

West Fraser Timber (NYSE:WFG) had its price objective lowered by equities research analysts at Raymond James from $120.00 to $115.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Raymond James’ price target points to a potential upside of 32.55% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on WFG. Scotiabank boosted their price target on shares of West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a research note on Friday, October 25th. BMO Capital Markets increased their price target on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, West Fraser Timber currently has an average rating of “Buy” and an average price target of $113.60.

West Fraser Timber Stock Down 1.4 %

Shares of WFG stock opened at $86.76 on Thursday. West Fraser Timber has a 12 month low of $73.91 and a 12 month high of $102.40. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of -67.78 and a beta of 1.22. The stock has a 50-day moving average price of $89.95 and a 200 day moving average price of $90.47.

Institutional Trading of West Fraser Timber

A number of large investors have recently made changes to their positions in the company. Smead Capital Management Inc. grew its stake in West Fraser Timber by 5.1% in the third quarter. Smead Capital Management Inc. now owns 118,108 shares of the company’s stock valued at $11,507,000 after acquiring an additional 5,743 shares during the period. Envestnet Asset Management Inc. acquired a new position in shares of West Fraser Timber in the 2nd quarter valued at approximately $1,862,000. Janus Henderson Group PLC raised its holdings in West Fraser Timber by 383.7% during the 3rd quarter. Janus Henderson Group PLC now owns 74,814 shares of the company’s stock worth $7,296,000 after buying an additional 59,347 shares during the period. Cerity Partners LLC lifted its stake in West Fraser Timber by 128.0% in the third quarter. Cerity Partners LLC now owns 247,400 shares of the company’s stock valued at $24,087,000 after buying an additional 138,871 shares in the last quarter. Finally, Pacifica Partners Inc. boosted its holdings in shares of West Fraser Timber by 816.2% in the third quarter. Pacifica Partners Inc. now owns 13,386 shares of the company’s stock valued at $1,306,000 after buying an additional 11,925 shares during the period. Institutional investors own 40.23% of the company’s stock.

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.