West Fraser Timber (TSE:WFT) had its price objective upped by Royal Bank of Canada from C$70.00 to C$80.00 in a report released on Thursday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.
Several other brokerages have also commented on WFT. CIBC lowered shares of West Fraser Timber from an outperform rating to a neutral rating and dropped their price target for the stock from C$58.00 to C$56.00 in a research report on Monday, January 13th. Raymond James set a C$72.00 price target on shares of West Fraser Timber and gave the stock a strong-buy rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. West Fraser Timber currently has an average rating of Buy and a consensus target price of C$73.00.
Shares of West Fraser Timber stock traded down C$1.33 during mid-day trading on Thursday, hitting C$63.17. 361,269 shares of the stock were exchanged, compared to its average volume of 390,796. West Fraser Timber has a twelve month low of C$43.93 and a twelve month high of C$72.77. The company has a 50-day simple moving average of C$57.27 and a 200 day simple moving average of C$54.38. The stock has a market capitalization of $4.43 billion and a price-to-earnings ratio of -43.82. The company has a current ratio of 1.51, a quick ratio of 0.61 and a debt-to-equity ratio of 38.59.
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 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.
Read More: Trading based on a resistance level
Receive News & Ratings for West Fraser Timber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for West Fraser Timber and related companies with MarketBeat.com's FREE daily email newsletter.