UBS Group Has Lowered Expectations for Westlake (NYSE:WLK) Stock Price

Westlake (NYSE:WLK) had its price target reduced by UBS Group from $160.00 to $144.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price objective indicates a potential upside of 5.68% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Westlake from $123.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Wells Fargo & Company reduced their price target on Westlake from $180.00 to $160.00 and set an “overweight” rating for the company in a report on Wednesday. Piper Sandler reduced their price objective on Westlake from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada dropped their price target on Westlake from $174.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. Finally, Mizuho started coverage on Westlake in a research report on Thursday, August 8th. They issued an “outperform” rating and a $170.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Westlake has an average rating of “Hold” and an average target price of $162.92.

Westlake Price Performance

WLK stock opened at $136.26 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.61 and a quick ratio of 1.94. The firm has a market capitalization of $17.52 billion, a P/E ratio of 191.92, a P/E/G ratio of 1.83 and a beta of 1.19. The business’s 50-day moving average is $140.53 and its two-hundred day moving average is $146.23. Westlake has a 1 year low of $118.64 and a 1 year high of $162.64.

Westlake (NYSE:WLK) last released its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.80). Westlake had a net margin of 2.27% and a return on equity of 7.84%. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the company posted $2.20 EPS. The company’s revenue was up .1% compared to the same quarter last year. Analysts anticipate that Westlake will post 7.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pathway Financial Advisers LLC acquired a new position in shares of Westlake during the first quarter worth about $43,000. Quest Partners LLC lifted its stake in shares of Westlake by 8,400.0% in the second quarter. Quest Partners LLC now owns 340 shares of the specialty chemicals company’s stock worth $49,000 after acquiring an additional 336 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Westlake in the second quarter worth about $66,000. UniSuper Management Pty Ltd lifted its stake in shares of Westlake by 66.7% in the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the specialty chemicals company’s stock worth $76,000 after acquiring an additional 200 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Westlake in the third quarter worth about $75,000. Institutional investors and hedge funds own 28.40% of the company’s stock.

Westlake Company Profile

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.