In a report released yesterday, Anthony Pettinari from Citi reiterated a Buy rating on Weyerhaeuser (WY – Research Report), with a price target of $36.00. The company’s shares closed yesterday at $30.41.
Pettinari covers the Industrials sector, focusing on stocks such as Crown Holdings, Core & Main, and Avery Dennison. According to TipRanks, Pettinari has an average return of 18.8% and a 70.03% success rate on recommended stocks.
In addition to Citi, Weyerhaeuser also received a Buy from Goldman Sachs’s Susan Maklari in a report issued on June 22. However, on June 21, Bank of America Securities reiterated a Hold rating on Weyerhaeuser (NYSE: WY).
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Based on Weyerhaeuser’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.88 billion and a net profit of $151 million. In comparison, last year the company earned a revenue of $3.1 billion and had a net profit of $771 million
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WY in relation to earlier this year.
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Weyerhaeuser Co. manufactures, distributes and sells forest products. It began its operations in 1900 and is one of the world’s largest private owners of timberlands. It operates through the following business segments: Real Estate, Energy and Natural Resources and Wood Products.
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