Weyerhaeuser (NYSE:WY – Get Free Report)‘s stock had its “hold” rating reiterated by equities research analysts at Truist Financial in a report released on Monday,Benzinga reports. They presently have a $28.00 target price on the real estate investment trust’s stock, up from their prior target price of $27.00. Truist Financial’s price target would indicate a potential upside of 10.87% from the company’s previous close.
WY has been the subject of a number of other research reports. Citigroup dropped their target price on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Weiss Ratings cut Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. JPMorgan Chase & Co. lifted their price objective on Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Raymond James Financial raised Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a report on Friday, July 10th. Finally, Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Sunday. One research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.11.
Read Our Latest Stock Report on Weyerhaeuser
Weyerhaeuser Price Performance
Weyerhaeuser (NYSE:WY – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.05. The firm had revenue of $1.87 billion for 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 business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. As a group, equities research analysts forecast that Weyerhaeuser will post 0.29 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC increased its stake in Weyerhaeuser by 166.1% in the fourth quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock valued at $891,242,000 after purchasing an additional 23,485,504 shares in the last quarter. Norges Bank acquired a new stake in Weyerhaeuser in the fourth quarter worth $549,531,000. Manning & Napier Advisors LLC bought a new position in shares of Weyerhaeuser during the first quarter worth $101,969,000. Freestone Grove Partners LP boosted its position in shares of Weyerhaeuser by 124.5% during the third quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust’s stock worth $166,030,000 after purchasing an additional 3,713,932 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Weyerhaeuser by 16.9% in the 1st quarter. Bank of New York Mellon Corp now owns 17,717,871 shares of the real estate investment trust’s stock valued at $432,848,000 after buying an additional 2,555,687 shares during the period. 82.99% of the stock is currently 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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