West Fraser Timber (WFT) Lifted to “Outperform” at BMO Capital Markets

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BMO Capital Markets upgraded shares of West Fraser Timber (TSE:WFT) from a market perform rating to an outperform rating in a research note released on Tuesday morning. The firm currently has C$78.00 target price on the stock, up from their previous target price of C$68.00.

A number of other equities research analysts have also recently commented on WFT. CIBC cut their price target on shares of West Fraser Timber from C$82.00 to C$79.00 in a report on Wednesday, November 14th. Royal Bank of Canada dropped their target price on shares of West Fraser Timber from C$100.00 to C$90.00 in a report on Tuesday, January 8th. Raymond James set a C$94.00 target price on shares of West Fraser Timber and gave the stock a strong-buy rating in a report on Wednesday, February 13th. Finally, TD Securities dropped their target price on shares of West Fraser Timber from C$86.00 to C$84.00 and set a buy rating on the stock in a report on Thursday, February 14th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of C$86.00.

TSE:WFT opened at C$67.56 on Tuesday. West Fraser Timber has a 52 week low of C$60.44 and a 52 week high of C$97.99. The company has a debt-to-equity ratio of 26.00, a quick ratio of 0.91 and a current ratio of 2.26. The company has a market cap of $4.95 billion and a PE ratio of 6.36.

West Fraser Timber (TSE:WFT) last posted its quarterly earnings results on Tuesday, February 12th. The company reported C$0.50 EPS for the quarter. The firm had revenue of C$1.27 billion for the quarter. As a group, equities analysts predict that West Fraser Timber will post 5.00000018491125 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, April 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.18%. The ex-dividend date is Friday, March 15th. West Fraser Timber’s dividend payout ratio is currently 6.59%.

In related news, insider Sean Peter Mclaren bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 26th. The shares were bought at an average price of C$65.93 per share, for a total transaction of C$65,934.00. Following the completion of the acquisition, the insider now owns 6,500 shares of the company’s stock, valued at approximately C$428,571.

About West Fraser Timber

West Fraser Timber Co Ltd. produces and sells lumber, panels, and pulp and paper in western Canada and the southern United States. The company offers spruce/pine/fir and southern yellow pine lumber, as well as newsprint, wood chips, and lignin. It also provides treated wood, medium density fiberboard panels, laminated veneer lumber panels, and plywood; northern bleached softwood Kraft pulp used to produce various paper products, including printing and writing papers, specialty grades, and various tissue products; and bleached chemical thermo-mechanical pulp that is used to produce coated board grades, printing and writing paper, and paper towel/napkin grades, as well as specialty papers and tissue grades.

Read More: How to interpret a stock’s beta number

Analyst Recommendations for West Fraser Timber (TSE:WFT)

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