The Goldman Sachs Group Issues Pessimistic Forecast for Westlake (NYSE:WLK) Stock Price

Westlake (NYSE:WLK) had its price target reduced by analysts at The Goldman Sachs Group from $130.00 to $95.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 21.78% from the company’s current price.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. dropped their price target on Westlake from $110.00 to $82.00 and set a “neutral” rating for the company in a research note on Tuesday. Piper Sandler reiterated a “neutral” rating and set a $105.00 price target (down previously from $120.00) on shares of Westlake in a research report on Monday, April 7th. BMO Capital Markets lowered their price target on Westlake from $125.00 to $103.00 and set a “market perform” rating for the company in a report on Tuesday. Morgan Stanley dropped their price objective on shares of Westlake from $130.00 to $122.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, UBS Group lowered their price objective on Westlake from $144.00 to $127.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Westlake currently has an average rating of “Moderate Buy” and an average target price of $107.92.

Westlake Price Performance

Shares of Westlake stock opened at $78.01 on Tuesday. The company has a 50-day simple moving average of $96.40 and a two-hundred day simple moving average of $112.16. Westlake has a twelve month low of $76.97 and a twelve month high of $161.31. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 109.87, a price-to-earnings-growth ratio of 2.36 and a beta of 1.03. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41.

Westlake (NYSE:WLK) last released its quarterly earnings results on Friday, May 2nd. The specialty chemicals company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($1.01). Westlake had a net margin of 0.81% and a return on equity of 6.93%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the firm posted $1.34 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts forecast that Westlake will post 6.48 EPS for the current year.

Institutional Investors Weigh In On Westlake

Several large investors have recently added to or reduced their stakes in WLK. Blue Trust Inc. boosted its holdings in shares of Westlake by 247.7% during the 4th quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 161 shares in the last quarter. Private Trust Co. NA boosted its stake in Westlake by 251.1% during the first quarter. Private Trust Co. NA now owns 316 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 226 shares in the last quarter. Allworth Financial LP grew its holdings in Westlake by 6,316.7% in the fourth quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 379 shares during the period. Transamerica Financial Advisors Inc. raised its holdings in shares of Westlake by 1,668.2% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 367 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Westlake by 127.1% during the 1st quarter. Signaturefd LLC now owns 427 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 239 shares in the last quarter. 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.