West Fraser Timber (WFT) PT Lowered to C$68.00
Several other brokerages have also recently weighed in on WFT. CIBC increased their target price on West Fraser Timber from C$110.00 to C$112.00 in a report on Thursday, July 12th. TD Securities upgraded West Fraser Timber from a hold rating to a buy rating and increased their target price for the company from C$99.00 to C$102.00 in a report on Monday, July 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of C$93.67.
WFT stock traded up C$3.13 during trading on Friday, hitting C$66.85. 1,186,400 shares of the company traded hands, compared to its average volume of 446,751. West Fraser Timber has a 1 year low of C$60.44 and a 1 year high of C$97.99.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 9th. Investors of record on Tuesday, October 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 24th. This is a boost from West Fraser Timber’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.20%.
In other West Fraser Timber news, insider Jr. Charles Henry Watkins purchased 600 shares of the stock in a transaction on Tuesday, July 24th. The stock was acquired at an average price of C$62.44 per share, with a total value of C$37,464.00.
West Fraser Timber Company Profile
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 lignin. 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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