West Fraser Timber Co. Ltd. (TSE:WFT) shares dropped 0.4% on Wednesday . The stock traded as low as C$78.96 and last traded at C$79.35. Approximately 245,167 shares traded hands during trading, a decline of 13% from the average daily volume of 283,245 shares. The stock had previously closed at C$79.05.
WFT has been the topic of several recent research reports. BMO Capital Markets cut shares of West Fraser Timber from an “outperform” rating to a “market perform” rating in a research report on Monday, August 14th. Scotiabank boosted their price objective on shares of West Fraser Timber from C$80.00 to C$82.00 and gave the company a “sector perform” rating in a report on Friday, November 3rd. TD Securities lowered shares of West Fraser Timber from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$78.00 to C$80.00 in a report on Friday, October 13th. CIBC boosted their price objective on shares of West Fraser Timber from C$67.00 to C$75.00 in a report on Thursday, October 19th. Finally, Raymond James Financial boosted their price objective on shares of West Fraser Timber from C$82.00 to C$84.00 and gave the company an “outperform” rating in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of C$75.67.
In related news, insider Ketcham Investments sold 500,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of C$80.90, for a total value of C$40,450,000.00.
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West Fraser Timber Company Profile
West Fraser Timber Co Ltd. is a diversified wood products company, which produces lumber (spruce-pine-fir (SPF) and southern yellow pine (SYP)), panels (plywood, medium-density fiberboard (MDF) and laminated veneer lumber (LVL)), pulp (northern bleached softwood kraft (NBSK) and bleached chemi-thermomechanical pulp (BCTMP)), newsprint, wood chips and energy.
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