West Fraser Timber Price Target Revised by TD Securities

West Fraser Timber (NYSE:WFG) has recently seen a change in its price target set by investment analysts at TD Securities. In a note released to investors on Friday, the firm reduced its price objective for West Fraser Timber from $120.00 to $110.00. Despite this adjustment, TD Securities has maintained a "buy" rating for the company's stock. The revised price target suggests a potential upside of 35.58% from the stock's previous closing price.

Aside from TD Securities, other analysts have also revised their price targets for West Fraser Timber. Scotiabank decreased their target from $120.00 to $109.00 while assigning a "sector outperform" rating. Similarly, Raymond James lowered their target from $115.00 to $105.00 and labeled the stock as "outperform." BMO Capital Markets took a different direction by raising their price target from $105.00 to $115.00, also giving West Fraser Timber an "outperform" rating. Overall, five analysts have given the stock a buy rating, leading to an average rating of "Buy" and an average price target of $107.80, according to MarketBeat data.

Current Stock Performance

On Friday, shares of West Fraser Timber were trading up by $0.55, reaching a price of $81.13. During the trading session, 135,446 shares changed hands, in contrast to the average volume of 177,825 shares. The company holds a market capitalization of $6.30 billion, with a P/E ratio of -63.42 and a beta of 1.22. West Fraser Timber has experienced a one-year low of $73.91 and a one-year high of $102.40. Currently, the 50-day moving average is $87.68 while the 200-day moving average stands at $90.69.

In the latest quarterly earnings report released on February 12th, West Fraser Timber reported earnings per share (EPS) of $0.08, surpassing the consensus estimate of ($0.55) by $0.63. The company achieved a positive return on equity of 0.53%, yet maintained a negative net margin of 1.53%. Analysts project that West Fraser Timber will report an EPS of 1.59 for the current fiscal year.

Changes in Hedge Fund Positions

Several hedge funds have recently made adjustments to their holdings in West Fraser Timber. FIL Ltd increased its stake by 35.5% during the fourth quarter, now owning 5,041,873 shares valued at $436,861,000 after acquiring an additional 1,319,843 shares. Norges Bank established a new position worth approximately $81,605,000 in the same timeframe. Additionally, Price T Rowe Associates Inc. MD raised its investment in West Fraser Timber by 56.5% during the fourth quarter, resulting in ownership of 2,162,049 shares valued at $187,126,000. FMR LLC grew its position by 22.5% in the third quarter, now holding 1,447,823 shares valued at $141,047,000 after gaining 266,298 shares. Thrivent Financial for Lutherans also increased their stake by 37.1% in the third quarter, bringing their total to 939,079 shares worth $91,429,000. Currently, institutional investors and hedge funds collectively own 40.23% of West Fraser Timber's stock.

Company Overview

West Fraser Timber Co Ltd. is a diversified wood products company involved in the manufacturing, selling, marketing, and distribution of a wide range of wood products. Their product portfolio includes various types of lumber, engineered wood products, pulp, newsprint, wood chips, and renewable energy materials. Specific offerings feature spruce-pine-fir, douglas fir-larch, and southern yellow pine lumber, as well as medium density fiberboard panels and oriented strand board.

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