Westrock Company (NYSE:WRK)‘s stock had its “hold” rating reissued by equities research analysts at KeyCorp in a note issued to investors on Wednesday.
The analysts wrote, “We are reducing our F4Q17 (quarter-end September) estimates to reflect the impact from the recent hurricanes, but raising our FY18 estimates (particularly 1Q18 and to a lesser extent 2Q18) to reflect the recent historic decline in OCC prices. We appreciate that the implied organic EBITDA growth in FY18 is now even greater, and that our FY18 estimate implies an unusually high amount of organic growth (implied margins are historically high for the Company). We do not consider FY18E EBITDA or margins normalized” for that very reason. Key Investment Points Our F4Q17 adj.””
Other equities research analysts also recently issued research reports about the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Westrock in a research note on Thursday, June 22nd. Zacks Investment Research raised shares of Westrock from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Friday, July 14th. Barclays PLC upped their target price on shares of Westrock from $52.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. BidaskClub raised shares of Westrock from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $62.00 target price on shares of Westrock in a research note on Thursday, June 15th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.33.
Westrock (NYSE:WRK) opened at 58.71 on Wednesday. Westrock has a 52-week low of $43.79 and a 52-week high of $59.10. The stock has a market capitalization of $14.73 billion, a PE ratio of 35.62 and a beta of 1.35. The firm’s 50-day moving average is $57.48 and its 200 day moving average is $57.48.
Westrock (NYSE:WRK) last issued its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities analysts forecast that Westrock will post $2.58 earnings per share for the current year.
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In other news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $58.41, for a total transaction of $1,072,874.88. Following the completion of the sale, the insider now owns 24,859 shares of the company’s stock, valued at $1,452,014.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer Graham-Johnson sold 3,806 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $57.08, for a total transaction of $217,246.48. Following the sale, the executive vice president now directly owns 41,588 shares of the company’s stock, valued at approximately $2,373,843.04. The disclosure for this sale can be found here. Insiders have sold 453,722 shares of company stock valued at $25,488,985 in the last three months. 2.68% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Mckinley Capital Management LLC Delaware acquired a new position in Westrock during the second quarter worth $100,000. FNY Partners Fund LP boosted its holdings in Westrock by 700.0% during the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 1,750 shares during the last quarter. Sun Life Financial INC boosted its holdings in Westrock by 26,114.3% during the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Westrock by 25.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 509 shares during the last quarter. Finally, Global X Management Co. LLC boosted its holdings in Westrock by 36.9% during the first quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 867 shares during the last quarter. 88.57% of the stock is owned by institutional investors.
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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