Weyerhaeuser (NYSE:WY) Upgraded by CIBC to “Outperformer” Rating

Weyerhaeuser (NYSE:WY) was upgraded by equities researchers at CIBC from a “neutral” rating to an “outperformer” rating in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a $35.00 price objective on the real estate investment trust’s stock. CIBC’s price target points to a potential upside of 20.81% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. StockNews.com upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Monday, December 16th. Truist Financial cut their price target on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, January 6th. BMO Capital Markets upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research note on Friday, December 6th. Finally, Raymond James upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research note on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.29.

Weyerhaeuser Price Performance

Weyerhaeuser stock opened at $28.97 on Wednesday. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27. The stock’s 50 day moving average is $29.92 and its 200-day moving average is $30.73. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $21.05 billion, a price-to-earnings ratio of 39.15 and a beta of 1.42.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The firm’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. Equities research analysts expect that Weyerhaeuser will post 0.46 EPS for the current year.

Institutional Investors Weigh In On Weyerhaeuser

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of Weyerhaeuser by 12.7% during the third quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock worth $1,210,694,000 after buying an additional 4,035,048 shares in the last quarter. State Street Corp increased its holdings in shares of Weyerhaeuser by 2.5% during the third quarter. State Street Corp now owns 31,407,646 shares of the real estate investment trust’s stock worth $1,063,463,000 after buying an additional 761,757 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Weyerhaeuser by 1.1% during the third quarter. Geode Capital Management LLC now owns 19,534,058 shares of the real estate investment trust’s stock worth $659,422,000 after buying an additional 217,510 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Weyerhaeuser by 4.6% during the second quarter. Legal & General Group Plc now owns 11,428,336 shares of the real estate investment trust’s stock worth $324,450,000 after buying an additional 503,059 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Weyerhaeuser by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,740,119 shares of the real estate investment trust’s stock worth $295,940,000 after buying an additional 454,095 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Company Profile

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.