Weyerhaeuser (NYSE:WY – Get Free Report) had its price target decreased by stock analysts at Truist Financial from $28.00 to $27.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target would suggest a potential upside of 13.21% from the company’s current price.
Other equities analysts also recently issued research reports about the company. Wall Street Zen upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. increased their target price on Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Weiss Ratings lowered Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 25th. Canadian Imperial Bank of Commerce set a $28.00 target price on shares of Weyerhaeuser in a research note on Thursday, April 23rd. Finally, Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Weyerhaeuser currently has an average rating of “Moderate Buy” and a consensus target price of $29.00.
Weyerhaeuser Price Performance
Weyerhaeuser (NYSE:WY – Get Free Report) last posted its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. Weyerhaeuser’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. On average, equities analysts predict that Weyerhaeuser will post 0.32 earnings per share for the current fiscal year.
Institutional Trading of Weyerhaeuser
Several institutional investors and hedge funds have recently added to or reduced their stakes in WY. Goldman Sachs Group Inc. raised its stake in shares of Weyerhaeuser by 18.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock worth $65,878,000 after buying an additional 346,571 shares during the last quarter. Empowered Funds LLC increased its stake in Weyerhaeuser by 3.4% in the first quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock valued at $1,348,000 after purchasing an additional 1,498 shares in the last quarter. Intech Investment Management LLC increased its stake in Weyerhaeuser by 5.9% in the first quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock valued at $1,647,000 after purchasing an additional 3,124 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Weyerhaeuser in the second quarter worth $275,000. Finally, Bank of Nova Scotia boosted its position in shares of Weyerhaeuser by 10.2% during the second quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust’s stock worth $2,354,000 after purchasing an additional 8,500 shares in the last quarter. 82.99% of the stock is owned by institutional investors.
Weyerhaeuser Company Profile
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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