West Fraser Timber (TSE:WFG) Shares Up 0.3% – Time to Buy?

Shares of West Fraser Timber Co. Ltd. (TSE:WFG) rose 0.3% during mid-day trading on Wednesday. The company traded as high as C$90.61 and last traded at C$90.22. Approximately 245,802 shares changed hands during mid-day trading, an increase of 44% from the average daily volume of 170,981 shares. The stock had previously closed at C$89.94.

Analysts Set New Price Targets

Separately, Raymond James Financial upgraded shares of West Fraser Timber from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, September 15th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, West Fraser Timber has a consensus rating of “Moderate Buy” and a consensus price target of C$96.50.

West Fraser Timber Stock Performance

The stock has a market cap of C$7.06 billion, a price-to-earnings ratio of -5.88 and a beta of 1.05. The company has a debt-to-equity ratio of 6.83, a quick ratio of 2.10 and a current ratio of 2.06. The company’s 50 day simple moving average is C$96.52 and its 200 day simple moving average is C$93.25.

West Fraser Timber (TSE:WFG) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C($1.11) earnings per share for the quarter. The company had revenue of C$2.04 billion during the quarter. West Fraser Timber had a negative return on equity of 24.96% and a negative net margin of 26.37%. On average, equities research analysts anticipate that West Fraser Timber Co. Ltd. will post 8.1184776 earnings per share for the current year.

About West Fraser Timber

West Fraser is a diversified wood products company with more than 50 facilities in Canada , the United States , the United Kingdom , and Europe , which promotes sustainable forest practices in its operations. The Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), northern bleached softwood kraft pulp, paper, wood chips, and other residuals. West Fraser’s products are used in home construction, repair and remodelling, industrial applications, papers and tissue.