EverSource Wealth Advisors LLC Sells 162 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Posted by on May 20th, 2023

EverSource Wealth Advisors LLC lessened its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG – Get Rating) by 29.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 388 shares of the company’s stock after selling 162 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in West Fraser Timber were worth $28,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Accurate Wealth Management LLC purchased a new stake in shares of West Fraser Timber in the fourth quarter valued at approximately $75,000. Signaturefd LLC purchased a new position in shares of West Fraser Timber during the 4th quarter worth $87,000. SG Americas Securities LLC acquired a new position in West Fraser Timber during the 3rd quarter worth about $159,000. Moors & Cabot Inc. lifted its stake in West Fraser Timber by 8.4% during the 1st quarter. Moors & Cabot Inc. now owns 2,525 shares of the company’s stock worth $208,000 after acquiring an additional 195 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new position in West Fraser Timber during the 3rd quarter worth about $210,000. Institutional investors and hedge funds own 45.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Credit Suisse Group raised their target price on West Fraser Timber from $95.00 to $97.00 and gave the stock an “outperform” rating in a research report on Monday, February 13th. TD Securities raised their price target on West Fraser Timber from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 16th.

West Fraser Timber Price Performance

Shares of NYSE WFG opened at $75.51 on Friday. West Fraser Timber Co. Ltd. has a 1-year low of $67.45 and a 1-year high of $102.96. The business has a 50-day moving average of $73.32 and a 200-day moving average of $76.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.66 and a quick ratio of 2.09. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 8.95 and a beta of 0.97.

West Fraser Timber (NYSE:WFG – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of $0.61 by ($1.13). West Fraser Timber had a return on equity of 10.92% and a net margin of 10.25%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $10.25 EPS. The company’s revenue was down 47.7% compared to the same quarter last year. On average, equities analysts anticipate that West Fraser Timber Co. Ltd. will post 5.26 EPS for the current fiscal year.

About West Fraser Timber

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West Fraser Timber Co Ltd. engages in the production of lumber and engineered wood products. It operates through the following business segments: Lumber, North America Engineered Wood Products (NA EWP), Pulp and Paper, Europe Engineered Wood Products (Europe EWP), and Corporate and Other. The Lumber segment refers to the manufacturing, selling, marketing, and distributing lumber.

See Also

Institutional Ownership by Quarter for West Fraser Timber (NYSE:WFG)

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