Westlake Co. (NYSE:WLK) Receives Average Recommendation of “Hold” from Analysts

Westlake Co. (NYSE:WLKGet Free Report) has been assigned a consensus recommendation of “Hold” from the fourteen research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $152.00.

Several analysts have commented on WLK shares. Vertical Research lowered Westlake from a “buy” rating to a “hold” rating and set a $154.00 price objective on the stock. in a report on Monday, April 8th. Wells Fargo & Company lifted their price target on shares of Westlake from $150.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Citigroup upped their price objective on shares of Westlake from $162.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, June 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Westlake from a “hold” rating to a “buy” rating and lifted their target price for the company from $138.00 to $174.00 in a research report on Thursday, April 18th. Finally, Piper Sandler upped their price target on shares of Westlake from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th.

View Our Latest Analysis on WLK

Insiders Place Their Bets

In other Westlake news, CFO Mark Steven Bender sold 4,950 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $152.19, for a total value of $753,340.50. Following the completion of the sale, the chief financial officer now directly owns 40,356 shares of the company’s stock, valued at approximately $6,141,779.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 74.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Westlake

Hedge funds have recently made changes to their positions in the company. CVA Family Office LLC acquired a new position in Westlake in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC lifted its stake in shares of Westlake by 51.3% in the 4th quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Westlake during the 4th quarter worth $37,000. Pathway Financial Advisers LLC acquired a new stake in shares of Westlake during the 1st quarter worth about $43,000. Finally, UniSuper Management Pty Ltd raised its holdings in Westlake by 66.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the specialty chemicals company’s stock valued at $76,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 28.40% of the company’s stock.

Westlake Stock Performance

WLK opened at $150.17 on Friday. The firm has a fifty day moving average price of $153.75 and a 200 day moving average price of $145.80. Westlake has a 1 year low of $107.34 and a 1 year high of $162.64. The stock has a market cap of $19.31 billion, a P/E ratio of 75.46, a P/E/G ratio of 1.90 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.46 and a quick ratio of 1.83.

Westlake (NYSE:WLKGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.25. Westlake had a net margin of 2.13% and a return on equity of 7.69%. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the firm posted $3.05 earnings per share. The company’s revenue was down 11.4% compared to the same quarter last year. Equities research analysts anticipate that Westlake will post 6.62 earnings per share for the current year.

Westlake Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Tuesday, May 21st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $2.00 annualized dividend and a dividend yield of 1.33%. Westlake’s dividend payout ratio is presently 100.50%.

Westlake Company Profile

(Get Free Report

Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products.

Further Reading

Analyst Recommendations for Westlake (NYSE:WLK)

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