West Fraser Timber Co. Ltd. (TSE:WFT) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as C$58.61 and last traded at C$58.71, with a volume of 198572 shares changing hands. The stock had previously closed at C$61.31.
WFT has been the topic of several recent analyst reports. TD Securities reduced their price objective on shares of West Fraser Timber from C$83.00 to C$80.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Raymond James set a C$94.00 price objective on shares of West Fraser Timber and gave the company a “strong-buy” rating in a research report on Wednesday, February 13th. BMO Capital Markets upgraded shares of West Fraser Timber from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from C$68.00 to C$78.00 in a research report on Tuesday, March 12th. CIBC cut shares of West Fraser Timber from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from C$79.00 to C$70.00 in a research report on Monday, January 14th. Finally, Royal Bank of Canada reduced their price objective on shares of West Fraser Timber from C$90.00 to C$84.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of C$78.00.
The stock has a market cap of $4.67 billion and a PE ratio of 7.42. The company has a debt-to-equity ratio of 36.61, a quick ratio of 0.59 and a current ratio of 1.76.
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About West Fraser Timber (TSE:WFT)
West Fraser Timber Co Ltd. produces and sells lumber, panels, and pulp and paper in western Canada and the southern United States. The company offers spruce-pine-fir and southern yellow pine lumber, as well as newsprint, wood chips, and other residuals and energy products. It also provides treated wood, medium density fiberboard panels, laminated veneer lumber panels, and plywood; northern bleached softwood Kraft pulp used to produce various paper products, including printing and writing papers, specialty grades, and various tissue products; and bleached chemical thermo-mechanical pulp that is used to produce coated board grades, printing and writing paper, and paper towel/napkin grades, as well as specialty papers and tissue grades.
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