Royal Bank of Canada Lowers West Fraser Timber (TSE:WFT) Price Target to C$77.00

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West Fraser Timber (TSE:WFT) had its price objective lowered by investment analysts at Royal Bank of Canada from C$84.00 to C$77.00 in a report issued on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s target price points to a potential upside of 40.28% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets restated a “buy” rating and issued a $10.50 target price on shares of Switch in a report on Tuesday, March 12th. TD Securities lowered their target price on shares of West Fraser Timber from C$83.00 to C$80.00 and set a “buy” rating for the company in a report on Monday, April 29th. CIBC upgraded shares of Cornerstone Progressive Return Fund from an “average” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, June 18th. Finally, Raymond James set a C$80.00 target price on shares of West Fraser Timber and gave the company a “strong-buy” rating in a report on Tuesday, June 18th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. West Fraser Timber currently has a consensus rating of “Buy” and an average target price of C$77.60.

Shares of TSE WFT traded down C$0.62 during midday trading on Tuesday, reaching C$54.89. 192,083 shares of the stock were exchanged, compared to its average volume of 392,124. The stock has a market capitalization of $3.80 billion and a P/E ratio of 6.75. West Fraser Timber has a 52-week low of C$52.01 and a 52-week high of C$95.85. The company has a debt-to-equity ratio of 36.61, a current ratio of 1.76 and a quick ratio of 0.59. The stock’s 50 day simple moving average is C$57.71.

West Fraser Timber (TSE:WFT) last released its earnings results on Thursday, April 25th. The company reported C$0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.73 by C($0.46). The company had revenue of C$1.24 billion for the quarter. Research analysts predict that West Fraser Timber will post 4.7399997 earnings per share for the current year.

West Fraser Timber Company Profile

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 other residuals and energy products. 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.

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Analyst Recommendations for West Fraser Timber (TSE:WFT)

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