WestRock (NYSE:WRK) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of WestRock (NYSE:WRKFree Report) in a research report report published on Saturday morning. The brokerage issued a hold rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada reissued a sector perform rating and issued a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. Seaport Res Ptn cut WestRock from a buy rating to a neutral rating in a research note on Monday, January 29th. Truist Financial upped their target price on WestRock from $42.00 to $51.00 and gave the company a hold rating in a research report on Tuesday, May 7th. Argus upped their target price on WestRock from $50.00 to $57.00 and gave the company a buy rating in a research report on Monday, May 6th. Finally, Wells Fargo & Company upped their target price on WestRock from $46.00 to $51.00 and gave the company an equal weight rating in a research report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $47.60.

Get Our Latest Report on WestRock

WestRock Trading Down 0.9 %

Shares of WRK stock opened at $52.49 on Friday. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 44.11, a PEG ratio of 4.51 and a beta of 1.10. The stock has a 50-day moving average of $49.26 and a 200-day moving average of $44.10. The company has a current ratio of 1.34, a quick ratio of 0.85 and a debt-to-equity ratio of 0.77. WestRock has a 1-year low of $27.12 and a 1-year high of $52.98.

WestRock (NYSE:WRKGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.14. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.75 billion. WestRock had a return on equity of 5.85% and a net margin of 1.57%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. On average, equities research analysts forecast that WestRock will post 2.11 earnings per share for the current year.

WestRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th will be issued a $0.3025 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.21 annualized dividend and a yield of 2.31%. WestRock’s payout ratio is currently 101.68%.

Insiders Place Their Bets

In other WestRock news, EVP Denise R. Singleton sold 9,700 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $51.46, for a total value of $499,162.00. Following the transaction, the executive vice president now owns 74,946 shares in the company, valued at $3,856,721.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider John L. O’neal sold 6,965 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $51.47, for a total transaction of $358,488.55. Following the completion of the sale, the insider now directly owns 60,491 shares of the company’s stock, valued at $3,113,471.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Denise R. Singleton sold 9,700 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.46, for a total value of $499,162.00. Following the sale, the executive vice president now directly owns 74,946 shares of the company’s stock, valued at $3,856,721.16. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of WestRock

Large investors have recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in WestRock in the third quarter worth $27,000. International Assets Investment Management LLC lifted its stake in WestRock by 268.7% during the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 575 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in WestRock during the fourth quarter worth about $35,000. Clear Street Markets LLC lifted its stake in WestRock by 198.5% during the third quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 665 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of WestRock by 59.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after buying an additional 320 shares during the period. 83.38% of the stock is owned by hedge funds and other institutional investors.

WestRock Company Profile

(Get Free Report)

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through 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.

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Analyst Recommendations for WestRock (NYSE:WRK)

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