RBC Capital analyst Paul Quinn maintained a Buy rating on West Fraser Timber Co (WFTBF) yesterday and set a price target of C$85.00. The company’s shares closed last Tuesday at $49.24.
According to TipRanks.com, Quinn is a 5-star analyst with an average return of 14.4% and a 67.3% success rate. Quinn covers the Basic Materials sector, focusing on stocks such as Rayonier Advanced Materials, International Paper Co, and Mercer International.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for West Fraser Timber Co with a $62.80 average price target, representing a 28.5% upside. In a report issued on October 5, Scotiabank also upgraded the stock to Buy with a C$84.00 price target.
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Based on West Fraser Timber Co’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.28 billion and net profit of $48 million. In comparison, last year the company earned revenue of $1.32 billion and had a GAAP net loss of $58 million.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WFTBF in relation to earlier this year.
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West Fraser Timber Co. Ltd. is an integrated wood products company. Its products include lumber, wood chips, plywood, pulp and newsprint. Its products include Spruce-Pine-Fir, laminated veneer, and southern yellow pine lumber, medium density fiberboard, plywood, treated wood, pulp and paper. The firm operates through the following segments: Lumber, Panels, Pulp and Paper, and Intracompany Fibre Sales. The company was founded by Henry Holman Ketcham Jr., Samuel Kendall Ketcham, and William Peters Ketcham in 1955 and is headquartered in Vancouver, Canada.
