JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Weyerhaeuser (NYSE:WY) Stock

Weyerhaeuser (NYSE:WYGet Free Report) had its target price raised by JPMorgan Chase & Co. from $30.00 to $31.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 27.91% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Truist Financial dropped their target price on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, April 15th. Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Citigroup decreased their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Finally, DA Davidson restated a “buy” rating and set a $31.00 price objective on shares of Weyerhaeuser in a research report on Monday, May 4th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.00.

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Weyerhaeuser Price Performance

Shares of WY traded down $1.07 during mid-day trading on Monday, reaching $24.23. 4,122,559 shares of the stock traded hands, compared to its average volume of 6,047,406. Weyerhaeuser has a 1 year low of $21.16 and a 1 year high of $27.75. The firm has a fifty day moving average price of $24.26 and a 200 day moving average price of $24.60. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 44.94, a price-to-earnings-growth ratio of 1.44 and a beta of 0.89.

Weyerhaeuser (NYSE:WYGet Free Report) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. As a group, equities research analysts predict that Weyerhaeuser will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Weyerhaeuser

A number of hedge funds have recently modified their holdings of WY. Essential Partners LLC increased its holdings in Weyerhaeuser by 120,800.0% during the 1st quarter. Essential Partners LLC now owns 1,209 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 1,208 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Weyerhaeuser in the 4th quarter worth approximately $39,000. Addison Advisors LLC increased its stake in shares of Weyerhaeuser by 83.4% during the fourth quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 757 shares during the period. Bayban purchased a new position in shares of Weyerhaeuser during the fourth quarter valued at approximately $41,000. Finally, Costello Asset Management INC raised its holdings in shares of Weyerhaeuser by 118.9% during the fourth quarter. Costello Asset Management INC now owns 1,797 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 976 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

About Weyerhaeuser

(Get Free Report)

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.

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Analyst Recommendations for Weyerhaeuser (NYSE:WY)

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