DA Davidson Upgrades Weyerhaeuser to Buy (WY)
Weyerhaeuser (NYSE:WY) was upgraded by equities researchers at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $37.00 target price on the stock, up from their previous target price of $33.00. DA Davidson’s price target suggests a potential upside of 18.48% from the stock’s previous close.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of Weyerhaeuser in a research note on Monday, July 14th. They now have a $34.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $35.30.
Weyerhaeuser (NYSE:WY) traded up 1.25% on Monday, hitting $31.62. The stock had a trading volume of 754,999 shares. Weyerhaeuser has a 52-week low of $26.64 and a 52-week high of $33.75. The stock’s 50-day moving average is $32.10 and its 200-day moving average is $30.4. The company has a market cap of $18.551 billion and a P/E ratio of 27.54. Weyerhaeuser also was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 81,719,472 shares, a decrease of 14.3% from the June 30th total of 95,377,078 shares. Based on an average daily volume of 16,540,232 shares, the short-interest ratio is currently 4.9 days. Approximately 14.2% of the shares of the company are short sold.
Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.08. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts expect that Weyerhaeuser will post $1.35 EPS for the current fiscal year.
Weyerhaeuser Company, formerly Weyerhaeuser Timber Company is a forest products company. The Company is engaged in growing and harvesting trees, builds homes and making a range of forest products.
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