Westlake (NYSE:WLK) Stock Rating Lowered by StockNews.com

Westlake (NYSE:WLKGet Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

WLK has been the subject of a number of other research reports. Piper Sandler upped their price objective on shares of Westlake from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Citigroup raised their price objective on shares of Westlake from $140.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Barclays raised their price objective on shares of Westlake from $142.00 to $160.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Vertical Research lowered shares of Westlake from a “buy” rating to a “hold” rating and set a $154.00 price target for the company. in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Westlake from a “hold” rating to a “buy” rating and raised their price objective for the stock from $138.00 to $174.00 in a report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $151.00.

Check Out Our Latest Analysis on WLK

Westlake Stock Up 0.3 %

Westlake stock opened at $153.25 on Wednesday. Westlake has a fifty-two week low of $107.34 and a fifty-two week high of $162.64. The stock has a market cap of $19.70 billion, a PE ratio of 77.01, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. The firm’s 50-day simple moving average is $154.58 and its 200 day simple moving average is $145.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.83 and a current ratio of 2.46.

Westlake (NYSE:WLKGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.25. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Westlake had a net margin of 2.13% and a return on equity of 7.69%. Westlake’s revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.05 EPS. Research analysts predict that Westlake will post 6.62 EPS for the current fiscal year.

Insider Activity at Westlake

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 stock was sold at an average price of $152.19, for a total transaction of $753,340.50. Following the sale, the chief financial officer now owns 40,356 shares in the company, valued at approximately $6,141,779.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Westlake

Large investors have recently made changes to their positions in the company. FMR LLC raised its stake in shares of Westlake by 2.1% during the 3rd quarter. FMR LLC now owns 4,630,975 shares of the specialty chemicals company’s stock worth $577,344,000 after buying an additional 96,152 shares in the last quarter. Capital World Investors boosted its holdings in Westlake by 1.7% in the first quarter. Capital World Investors now owns 1,334,579 shares of the specialty chemicals company’s stock valued at $203,924,000 after acquiring an additional 22,743 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Westlake by 6.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,142,590 shares of the specialty chemicals company’s stock valued at $159,917,000 after acquiring an additional 66,614 shares during the last quarter. Norges Bank acquired a new position in Westlake in the fourth quarter valued at $50,961,000. Finally, Charles Schwab Investment Management Inc. raised its position in Westlake by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 352,924 shares of the specialty chemicals company’s stock valued at $49,395,000 after purchasing an additional 8,292 shares during the period. 28.40% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading

Analyst Recommendations for Westlake (NYSE:WLK)

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