Weyerhaeuser (NYSE:WY) Upgraded at Bank of America

Weyerhaeuser (NYSE:WY – Get Free Report) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Wednesday, Benzinga reports. The firm currently has a $25.00 price target on the real estate investment trust’s stock, down from their prior price target of $28.00. Bank of America‘s price objective suggests a potential upside of 31.54% from the stock’s current price.

WY has been the subject of several other research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Weyerhaeuser in a research note on Friday, July 17th. Weiss Ratings downgraded shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. Seaport Research Partners set a $30.00 price objective on shares of Weyerhaeuser in a report on Thursday, October 8th. Truist Financial decreased their price objective on shares of Weyerhaeuser from $28.00 to $24.00 and set a “hold” rating on the stock in a report on Monday. Finally, DA Davidson reaffirmed a “buy” rating and set a $31.00 price objective on shares of Weyerhaeuser in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.22.

View Our Latest Stock Report on WY

Weyerhaeuser Stock Performance

Shares of Weyerhaeuser stock opened at $19.00 on Wednesday. The firm has a market cap of $13.70 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 2.13 and a beta of 0.92. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. Weyerhaeuser has a 52 week low of $18.25 and a 52 week high of $27.75. The business’s fifty day simple moving average is $22.23 and its 200-day simple moving average is $23.50.

Weyerhaeuser (NYSE:WY – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%. The company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS. Equities analysts forecast that Weyerhaeuser will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On Weyerhaeuser

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Eagle Investment Management LLC increased its stake in Weyerhaeuser by 10.6% during the second quarter. First Eagle Investment Management LLC now owns 51,179,282 shares of the real estate investment trust’s stock worth $1,225,232,000 after purchasing an additional 4,885,818 shares during the period. Wellington Management Group LLP lifted its position in shares of Weyerhaeuser by 14.3% during the second quarter. Wellington Management Group LLP now owns 43,574,118 shares of the real estate investment trust’s stock worth $1,043,164,000 after purchasing an additional 5,437,685 shares in the last quarter. State Street Corp boosted its stake in shares of Weyerhaeuser by 3.3% in the second quarter. State Street Corp now owns 34,298,957 shares of the real estate investment trust’s stock valued at $821,117,000 after purchasing an additional 1,106,553 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Weyerhaeuser in the second quarter valued at approximately $468,969,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Weyerhaeuser by 11.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,212,273 shares of the real estate investment trust’s stock valued at $151,766,000 after purchasing an additional 639,334 shares during the period. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

About Weyerhaeuser

(Get Free Report)

Weyerhaeuser (NYSE: WY) is one of the world’s largest private owners of timberlands and a major producer of forest products. The company owns and manages timberlands in the United States and operates manufacturing facilities in the United States and Canada, serving residential, commercial and industrial markets.

Its principal products include lumber, structural panels, engineered wood products and other materials used in homebuilding and construction. Weyerhaeuser also manages its timberlands for sustainable wood production and generates revenue from real estate, energy and natural-resource activities associated with those properties.

Founded in 1900, Weyerhaeuser has developed from a regional timber company into an integrated forest-products business.

Further Reading

Analyst Recommendations for Weyerhaeuser (NYSE:WY)

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