Weyerhaeuser (NYSE:WY - Get Free Report) had its target price lowered by equities research analysts at Citigroup from $38.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the real estate investment trust's stock. Citigroup's target price would suggest a potential upside of 18.76% from the company's previous close.
A number of other research firms have also recently weighed in on WY. Truist Financial cut their price target on Weyerhaeuser from $34.00 to $33.00 and set a "hold" rating on the stock in a report on Monday, January 6th. Raymond James upgraded shares of Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $32.00 price target on the stock in a research report on Monday, December 23rd. BMO Capital Markets upgraded shares of Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $38.00 price objective on the stock in a research note on Friday, December 6th. StockNews.com raised shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a report on Monday, December 16th. Finally, CIBC raised shares of Weyerhaeuser from a "neutral" rating to an "outperformer" rating and set a $35.00 price objective on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $35.14.
View Our Latest Stock Analysis on WY
Shares of NYSE:WY traded up $0.51 on Wednesday, reaching $29.47. 2,241,626 shares of the company's stock were exchanged, compared to its average volume of 3,364,644. Weyerhaeuser has a fifty-two week low of $26.73 and a fifty-two week high of $36.27. The business's 50-day moving average is $29.92 and its two-hundred day moving average is $30.73. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $21.41 billion, a price-to-earnings ratio of 39.82 and a beta of 1.42.
Weyerhaeuser (NYSE:WY - Get Free Report) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. Weyerhaeuser's quarterly revenue was down 13.3% compared to the same quarter last year. As a group, equities research analysts forecast that Weyerhaeuser will post 0.46 EPS for the current year.
A number of hedge funds have recently modified their holdings of WY. Wellington Management Group LLP increased its holdings in shares of Weyerhaeuser by 12.7% in the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust's stock valued at $1,210,694,000 after purchasing an additional 4,035,048 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Weyerhaeuser by 257.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust's stock valued at $151,437,000 after buying an additional 3,220,235 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Weyerhaeuser by 2,664.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust's stock valued at $74,355,000 after acquiring an additional 2,116,520 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Weyerhaeuser by 30.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust's stock worth $291,306,000 after acquiring an additional 2,004,073 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Weyerhaeuser by 512.3% during the second quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust's stock worth $44,386,000 after acquiring an additional 1,308,125 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Weyerhaeuser, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Weyerhaeuser wasn't on the list.
While Weyerhaeuser currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.