WestRock (NYSE:WRK) Given Average Rating of “Hold” by Brokerages

WestRock (NYSE:WRK) has been given an average recommendation of “Hold” by the nine analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $35.78.

Several research firms have issued reports on WRK. Royal Bank of Canada boosted their target price on WestRock from $33.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, August 4th. StockNews.com started coverage on WestRock in a report on Thursday, August 17th. They issued a “hold” rating for the company. UBS Group lowered their price target on shares of WestRock from $42.00 to $37.00 in a research note on Friday, June 30th. Wells Fargo & Company increased their price target on shares of WestRock from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Finally, Truist Financial boosted their price objective on shares of WestRock from $29.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, August 4th.

WestRock Price Performance

WestRock stock opened at $35.77 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.49 and a quick ratio of 0.98. The business has a 50 day simple moving average of $32.17 and a 200-day simple moving average of $30.26. WestRock has a 12 month low of $26.84 and a 12 month high of $39.34. The stock has a market capitalization of $9.17 billion, a PE ratio of -6.46 and a beta of 1.21.

WestRock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.39. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.16 billion. WestRock had a negative net margin of 6.82% and a positive return on equity of 8.75%. WestRock’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 EPS. Equities analysts predict that WestRock will post 2.87 earnings per share for the current year.

WestRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were issued a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.08%. WestRock’s dividend payout ratio (DPR) is -19.86%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A purchased a new stake in shares of WestRock in the second quarter valued at $25,000. Ancora Advisors LLC purchased a new position in shares of WestRock during the 1st quarter worth about $29,000. Gyon Technologies Capital Management LP acquired a new stake in shares of WestRock in the fourth quarter worth approximately $31,000. Global Retirement Partners LLC grew its holdings in WestRock by 203.8% in the first quarter. Global Retirement Partners LLC now owns 1,118 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 750 shares during the period. Finally, Cornerstone Management Inc. increased its position in WestRock by 75.0% during the first quarter. Cornerstone Management Inc. now owns 1,050 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 450 shares during the last quarter. 85.51% of the stock is currently owned by hedge funds and other institutional investors.

About WestRock

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates in four segments, Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.