West Fraser Timber Gets a Sell Rating from RBC Capital

By Ryan Adsit

West Fraser Timber (TSX: WFT), the Materials sector company, was revisited by a Wall Street analyst yesterday. The company received a Sell rating from RBC Capital’s analyst Paul Quinn, with a C$53 price target.

According to TipRanks.com, Quinn is a top 100 analyst with an average return of 20.0% and a 74.2% success rate. Quinn covers the Consumer Goods sector, focusing on stocks such as Mercer International Inc, International Paper Co, and Clearwater Paper.

West Fraser Timber has an analyst consensus of Moderate Buy, with a price target consensus of C$63.75.

Based on West Fraser Timber’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$1.19 billion and quarterly net profit of C$123 million. In comparison, last year the company earned revenue of C$1.08 billion and had a net profit of C$42 million.

West Fraser Timber Co. Ltd. is an integrated wood products company, which produces lumber, wood chips, plywood, pulp and newsprint. Its products include Spruce-Pine-Fir (SPF) lumber, southern yellow pine (SYP) lumber, medium density fiberboard (MDF), plywood, treated wood, laminated veneer lumber, and pulp & paper. The company was founded by Henry Holman Ketcham Jr., Samuel Kendall Ketcham and William Peters Ketcham in 1955 and is headquartered in Vancouver, Canada.

The company’s shares closed last Monday at $60.25, close to its 52-week high of $62.50.