Royal Bank of Canada upgraded shares of West Fraser Timber (TSE:WFT) from an underperform rating to a sector perform rating in a report published on Friday, January 12th. The firm currently has C$80.00 price target on the stock, up from their previous price target of C$60.00.
Other analysts also recently issued research reports about the company. CIBC upped their price target on West Fraser Timber from C$75.00 to C$80.00 in a research note on Thursday, October 26th. TD Securities downgraded West Fraser Timber from a buy rating to a hold rating and upped their price target for the stock from C$78.00 to C$80.00 in a research note on Friday, October 13th. Raymond James Financial upped their price target on West Fraser Timber from C$82.00 to C$84.00 and gave the stock an outperform rating in a research note on Tuesday, October 24th. Finally, Scotiabank increased their target price on West Fraser Timber from C$80.00 to C$82.00 and gave the company a sector perform rating in a research note on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of C$85.00.
West Fraser Timber (WFT) traded down C$1.84 during trading on Friday, hitting C$83.25. The company had a trading volume of 274,897 shares, compared to its average volume of 211,773. The stock has a market cap of $6,300.00, a P/E ratio of 13.11 and a beta of 1.51. West Fraser Timber has a 52 week low of C$44.29 and a 52 week high of C$88.98.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 27th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, December 26th. This represents a $0.44 annualized dividend and a yield of 0.53%. West Fraser Timber’s dividend payout ratio is 5.04%.
In other West Fraser Timber news, insider Ketcham Investments sold 500,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of C$80.90, for a total transaction of C$40,450,000.00.
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About West Fraser Timber
West Fraser Timber Co Ltd. is a diversified wood products company, which produces lumber (spruce-pine-fir (SPF) and southern yellow pine (SYP)), panels (plywood, medium-density fiberboard (MDF) and laminated veneer lumber (LVL)), pulp (northern bleached softwood kraft (NBSK) and bleached chemi-thermomechanical pulp (BCTMP)), newsprint, wood chips and energy.
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