Westrock (WRK) Receives New Coverage from Analysts at UBS Group

UBS Group started coverage on shares of Westrock (NYSE:WRK) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm issued a buy rating and a $47.00 price objective on the basic materials company’s stock.

WRK has been the subject of several other research reports. KeyCorp reaffirmed a hold rating on shares of Westrock in a research report on Wednesday, May 1st. Deutsche Bank lowered shares of Westrock from a buy rating to a hold rating and reduced their price target for the company from $51.00 to $42.00 in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $49.56.

NYSE WRK opened at $36.66 on Wednesday. Westrock has a 52 week low of $35.20 and a 52 week high of $62.56. The stock has a market cap of $9.62 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 2.10 and a beta of 1.59. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.80.

Westrock (NYSE:WRK) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.17. Westrock had a net margin of 4.89% and a return on equity of 9.03%. The firm had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Sell-side analysts forecast that Westrock will post 3.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 10th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Thursday, May 9th. Westrock’s dividend payout ratio is 44.50%.

In other news, Director Currey M. Russell bought 5,000 shares of Westrock stock in a transaction that occurred on Thursday, February 28th. The stock was bought at an average cost of $37.50 per share, with a total value of $187,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Westrock in the 1st quarter worth approximately $26,000. Rockefeller Capital Management L.P. increased its holdings in Westrock by 253.0% in the 1st quarter. Rockefeller Capital Management L.P. now owns 706 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 506 shares in the last quarter. Parallel Advisors LLC increased its holdings in Westrock by 64.5% in the 4th quarter. Parallel Advisors LLC now owns 719 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 282 shares in the last quarter. CSat Investment Advisory L.P. increased its holdings in Westrock by 60.0% in the 1st quarter. CSat Investment Advisory L.P. now owns 795 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 298 shares in the last quarter. Finally, Kings Point Capital Management purchased a new stake in Westrock in the 4th quarter worth approximately $30,000. 85.26% of the stock is owned by institutional investors.

Westrock Company Profile

WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.

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Analyst Recommendations for Westrock (NYSE:WRK)

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