Westlake Co. (NYSE:WLK) Receives Consensus Rating of “Buy” from Brokerages

Westlake Co. (NYSE:WLKGet Rating) has received a consensus rating of “Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $123.42.

WLK has been the topic of a number of research analyst reports. Citigroup lifted their price target on Westlake from $125.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, February 25th. Royal Bank of Canada lifted their price target on Westlake from $128.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 5th. UBS Group lowered their price objective on Westlake from $90.00 to $89.00 and set a “sell” rating on the stock in a research note on Tuesday, January 4th. Wells Fargo & Company lifted their target price on Westlake from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, April 8th. Finally, The Goldman Sachs Group boosted their price objective on Westlake from $110.00 to $129.00 and gave the company a “neutral” rating in a report on Tuesday, January 18th.

In other Westlake news, CAO Johnathan Stevan Zoeller sold 1,006 shares of the firm’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $110.39, for a total transaction of $111,052.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert F. Buesinger sold 2,730 shares of Westlake stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $115.55, for a total transaction of $315,451.50. The disclosure for this sale can be found here. Insiders sold 38,090 shares of company stock worth $4,720,673 over the last three months. 73.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. AXA S.A. boosted its holdings in shares of Westlake by 402.3% during the third quarter. AXA S.A. now owns 43,700 shares of the specialty chemicals company’s stock worth $3,983,000 after purchasing an additional 35,000 shares during the period. M&G Investment Management Ltd. bought a new position in shares of Westlake in the fourth quarter valued at approximately $1,590,000. BNP Paribas Arbitrage SA raised its position in shares of Westlake by 535.8% in the third quarter. BNP Paribas Arbitrage SA now owns 19,856 shares of the specialty chemicals company’s stock valued at $1,810,000 after purchasing an additional 16,733 shares during the period. National Bank of Canada FI bought a new position in Westlake during the fourth quarter worth $29,000. Finally, Centaurus Financial Inc. bought a new position in Westlake during the fourth quarter worth $930,000.

Shares of NYSE:WLK opened at $127.22 on Tuesday. Westlake has a 52-week low of $78.06 and a 52-week high of $135.47. The stock has a market cap of $16.30 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 0.22 and a beta of 1.29. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $120.39 and a 200-day moving average price of $106.92.

Westlake (NYSE:WLKGet Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The specialty chemicals company reported $4.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.36. The firm had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Westlake had a return on equity of 26.37% and a net margin of 17.11%. The company’s revenue for the quarter was up 78.5% compared to the same quarter last year. During the same period last year, the business posted $0.87 earnings per share. As a group, equities analysts anticipate that Westlake will post 19.02 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, March 1st were issued a $0.2975 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Monday, February 28th. Westlake’s payout ratio is currently 7.64%.

Westlake Company Profile (Get Rating)

Westlake Corporation manufactures and supplies petrochemicals, polymers, and building products worldwide. It operates through two segments, Performance and Essential Materials; and Housing and Infrastructure Products. The Performance and Essential Materials segment manufactures and markets polyethylene, styrene monomer, ethylene co-products, PVC, VCM, ethylene dichloride chlor-alkali, and chlorinated derivative products.

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