CIBC World Markets Forecasts Strong Price Appreciation for West Fraser Timber (TSE:WFG) Stock

West Fraser Timber (TSE:WFG) had its price objective lifted by analysts at CIBC World Markets from C$96.00 to C$106.00 in a research report issued on Saturday,BayStreet.CA reports. CIBC World Markets’ price objective would indicate a potential upside of 5.90% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. Raymond James Financial raised West Fraser Timber from a “hold” rating to a “moderate buy” rating in a report on Wednesday, January 14th. Canadian Imperial Bank of Commerce lifted their target price on West Fraser Timber from C$96.00 to C$106.00 in a research note on Friday. Finally, TD Securities upped their price target on West Fraser Timber from C$88.00 to C$93.00 in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, West Fraser Timber presently has a consensus rating of “Moderate Buy” and a consensus price target of C$101.67.

West Fraser Timber Stock Down 0.4%

Shares of West Fraser Timber stock opened at C$100.09 on Friday. The stock has a 50 day moving average price of C$89.50 and a two-hundred day moving average price of C$92.85. The company has a quick ratio of 2.10, a current ratio of 1.82 and a debt-to-equity ratio of 7.39. The stock has a market capitalization of C$7.84 billion, a P/E ratio of -30.33 and a beta of 1.74. West Fraser Timber has a 12-month low of C$80.82 and a 12-month high of C$124.37.

West Fraser Timber (TSE:WFG) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported C($2.63) EPS for the quarter. West Fraser Timber had a negative return on equity of 1.33% and a negative net margin of 1.53%.The company had revenue of C$1.82 billion during the quarter. Equities analysts expect that West Fraser Timber will post 8.1184776 earnings per share for the current year.

About West Fraser Timber

West Fraser Timber CoLtd is a diversified wood products company with more than 60 facilities in Canada, the United States, the United Kingdom, and Europe. The Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, other residuals, and renewable energy. West Fraser’s products are used in home construction, repair and remodeling, industrial applications, papers, tissue, and box materials.