Westlake Co. (NYSE:WLK) Given Average Rating of “Hold” by Analysts

Westlake Co. (NYSE:WLKGet Free Report) has received an average rating of “Hold” from the fourteen analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $153.15.

A number of equities analysts have commented on WLK shares. StockNews.com upgraded Westlake from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. Deutsche Bank Aktiengesellschaft upgraded Westlake from a “hold” rating to a “buy” rating and upped their target price for the stock from $138.00 to $174.00 in a research report on Thursday, April 18th. Wells Fargo & Company upped their target price on Westlake from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Bank of America upgraded Westlake from a “hold” rating to a “buy” rating and upped their target price for the stock from $138.00 to $174.00 in a research report on Thursday, April 18th. Finally, Vertical Research downgraded Westlake from a “buy” rating to a “hold” rating and set a $154.00 target price for the company. in a research report on Monday, April 8th.

View Our Latest Analysis on Westlake

Insider Buying and Selling

In other Westlake news, CFO Mark Steven Bender sold 4,950 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $152.19, for a total transaction of $753,340.50. Following the completion of the sale, the chief financial officer now directly owns 40,356 shares in the company, valued at $6,141,779.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its stake in Westlake by 51.3% during the fourth quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 80 shares during the period. Arizona State Retirement System lifted its stake in Westlake by 0.8% during the fourth quarter. Arizona State Retirement System now owns 10,528 shares of the specialty chemicals company’s stock worth $1,473,000 after purchasing an additional 81 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Westlake by 2.6% in the first quarter. Gulf International Bank UK Ltd now owns 3,302 shares of the specialty chemicals company’s stock valued at $504,000 after acquiring an additional 84 shares during the last quarter. Legacy Capital Group California Inc. raised its stake in shares of Westlake by 2.1% in the fourth quarter. Legacy Capital Group California Inc. now owns 4,256 shares of the specialty chemicals company’s stock valued at $596,000 after acquiring an additional 88 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Westlake by 1.7% in the first quarter. Advisors Asset Management Inc. now owns 5,554 shares of the specialty chemicals company’s stock valued at $849,000 after acquiring an additional 91 shares during the last quarter. Institutional investors and hedge funds own 28.40% of the company’s stock.

Westlake Stock Up 0.9 %

Shares of Westlake stock opened at $141.40 on Thursday. The company has a quick ratio of 1.83, a current ratio of 2.46 and a debt-to-equity ratio of 0.42. The firm has a market cap of $18.18 billion, a P/E ratio of 71.06, a P/E/G ratio of 1.80 and a beta of 1.20. Westlake has a fifty-two week low of $112.77 and a fifty-two week high of $162.64. The business has a 50-day moving average price of $152.22 and a 200 day moving average price of $146.80.

Westlake (NYSE:WLKGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.25. Westlake had a return on equity of 7.69% and a net margin of 2.13%. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the company earned $3.05 earnings per share. Westlake’s quarterly revenue was down 11.4% on a year-over-year basis. On average, sell-side analysts forecast that Westlake will post 6.62 earnings per share for the current fiscal year.

Westlake Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Tuesday, May 21st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Monday, May 20th. Westlake’s dividend payout ratio is presently 100.50%.

About Westlake

(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.

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Analyst Recommendations for Westlake (NYSE:WLK)

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