Citigroup Lowers WestRock (WRK) Price Target to $54.00

WestRock (NYSE:WRK) had its price target cut by Citigroup from $75.00 to $54.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Citigroup’s price target indicates a potential upside of 26.73% from the company’s current price.

Several other analysts have also recently commented on the company. Wells Fargo & Co started coverage on WestRock in a research report on Friday, September 21st. They set a “market perform” rating and a $63.00 price target for the company. Zacks Investment Research cut WestRock from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Barclays dropped their price target on WestRock from $64.00 to $62.00 and set an “equal weight” rating for the company in a research report on Thursday, August 9th. Goldman Sachs Group cut WestRock from a “conviction-buy” rating to a “buy” rating and set a $64.00 price target for the company. in a research report on Wednesday. Finally, BMO Capital Markets cut WestRock from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $80.00 to $54.00 in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. WestRock currently has a consensus rating of “Hold” and a consensus target price of $67.73.

Shares of WRK opened at $42.61 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.56 and a quick ratio of 0.95. WestRock has a one year low of $41.86 and a one year high of $71.55. The company has a market cap of $13.63 billion, a P/E ratio of 16.11, a PEG ratio of 1.18 and a beta of 1.32.

WestRock (NYSE:WRK) last issued its quarterly earnings results on Thursday, August 2nd. The basic materials company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.03. WestRock had a return on equity of 8.49% and a net margin of 11.31%. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts predict that WestRock will post 4.06 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRK. Royal Bank of Canada boosted its stake in WestRock by 257.7% during the first quarter. Royal Bank of Canada now owns 2,395,435 shares of the basic materials company’s stock worth $153,716,000 after buying an additional 1,725,807 shares during the last quarter. Bank of Montreal Can acquired a new position in WestRock during the second quarter worth $47,680,000. Millennium Management LLC lifted its stake in shares of WestRock by 10,291.3% in the 1st quarter. Millennium Management LLC now owns 842,946 shares of the basic materials company’s stock valued at $54,092,000 after purchasing an additional 834,834 shares during the last quarter. GMT Capital Corp acquired a new position in shares of WestRock in the 2nd quarter valued at $29,742,000. Finally, American Century Companies Inc. lifted its stake in shares of WestRock by 8.5% in the 2nd quarter. American Century Companies Inc. now owns 4,806,064 shares of the basic materials company’s stock valued at $274,042,000 after purchasing an additional 375,908 shares during the last quarter. 85.14% of the stock is currently owned by institutional investors.

About WestRock

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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