Truist Financial Forecasts Strong Price Appreciation for Weyerhaeuser (NYSE:WY) Stock

Weyerhaeuser (NYSE:WY) had its price target boosted by Truist Financial from $28.00 to $29.00 in a report issued on Monday, MarketBeat reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective would indicate a potential upside of 8.68% from the company’s current price.

A number of other analysts also recently issued reports on WY. JPMorgan Chase & Co. dropped their target price on shares of Weyerhaeuser from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. New Street Research set a $28.00 price objective on shares of Weyerhaeuser in a research report on Friday, December 12th. Royal Bank Of Canada reduced their target price on shares of Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Bank of America reaffirmed a “neutral” rating and set a $26.00 price target (down from $29.00) on shares of Weyerhaeuser in a research report on Monday, November 17th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Weyerhaeuser in a research report on Monday, December 29th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Weyerhaeuser currently has an average rating of “Hold” and a consensus price target of $28.63.

Weyerhaeuser Trading Up 3.3%

Shares of WY opened at $26.68 on Monday. The company has a current ratio of 1.29, a quick ratio of 0.83 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $19.24 billion, a P/E ratio of 60.65, a price-to-earnings-growth ratio of 97.90 and a beta of 1.03. The stock’s fifty day simple moving average is $24.31 and its 200 day simple moving average is $24.43. Weyerhaeuser has a twelve month low of $21.16 and a twelve month high of $31.66.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.58 billion. Weyerhaeuser had a return on equity of 1.50% and a net margin of 4.69%.The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. On average, equities research analysts forecast that Weyerhaeuser will post 0.78 earnings per share for the current year.

Insider Transactions at Weyerhaeuser

In other Weyerhaeuser news, Director Sara Grootwassink Lewis bought 4,500 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were bought at an average cost of $23.61 per share, with a total value of $106,245.00. Following the transaction, the director directly owned 25,978 shares in the company, valued at approximately $613,340.58. This trade represents a 20.95% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Devin W. Stockfish sold 90,162 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $23.33, for a total value of $2,103,479.46. Following the transaction, the chief executive officer owned 1,024,861 shares of the company’s stock, valued at approximately $23,910,007.13. This trade represents a 8.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Weyerhaeuser during the second quarter worth about $600,502,000. Bank of New York Mellon Corp boosted its stake in Weyerhaeuser by 86.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,550,466 shares of the real estate investment trust’s stock valued at $348,111,000 after purchasing an additional 6,284,982 shares during the period. Freestone Grove Partners LP grew its position in Weyerhaeuser by 124.5% in the 3rd quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust’s stock worth $166,030,000 after purchasing an additional 3,713,932 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Weyerhaeuser by 6.3% in the third quarter. Wellington Management Group LLP now owns 39,646,897 shares of the real estate investment trust’s stock valued at $982,847,000 after purchasing an additional 2,343,724 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Weyerhaeuser by 86.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,300,937 shares of the real estate investment trust’s stock valued at $106,620,000 after buying an additional 1,990,806 shares during the last quarter. Institutional investors own 82.99% of the company’s stock.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.