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West Fraser Timber Co. (TSE:WFT) was upgraded by equities research analysts at RBC Capital from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Wednesday. The firm currently has a C$56.00 target price on the stock, down from their previous target price of C$60.00. RBC Capital’s price target indicates a potential upside of 6.00% from the company’s current price.

West Fraser Timber Co. (TSE:WFT) traded up 4.82% during mid-day trading on Wednesday, hitting $52.83. The stock had a trading volume of 251,238 shares. West Fraser Timber Co. has a 52 week low of $38.88 and a 52 week high of $59.50. The stock’s 50-day moving average is $50.40 and its 200-day moving average is $52.32. The company has a market cap of $4.526 billion and a P/E ratio of 12.22.

West Fraser Timber Co. (TSE:WFT) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. Analysts expect that West Fraser Timber Co. will post $4.40 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, July 21st. Stockholders of record on Monday, June 30th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Thursday, June 26th.

A number of other firms have also recently commented on WFT. Analysts at Salman Partners cut their price target on shares of West Fraser Timber Co. from C$64.00 to C$62.00 in a research note on Monday, April 28th. They now have a “buy” rating on the stock. Separately, analysts at Fraser Mackenzie cut their price target on shares of West Fraser Timber Co. from C$64.00 to C$62.00 in a research note on Monday, April 28th. Finally, analysts at Dundee Securities reiterated a “buy” rating on shares of West Fraser Timber Co. in a research note on Wednesday, April 23rd. They now have a C$64.00 price target on the stock, up previously from C$60.00. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of C$70.00.

West Fraser Timber Co Ltd. is a Canada-based wood products company. The Company produces lumber (TSE:WFT) and southern yellow pine (SYP)), panels (plywood, MDF and LVL), pulp (NBSK and BCTMP), newsprint and wood chips.

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