Westlake (NYSE:WLK – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
Several other analysts have also recently weighed in on WLK. Morgan Stanley reduced their price objective on shares of Westlake from $106.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $115.00 target price on shares of Westlake in a research report on Thursday, May 7th. JPMorgan Chase & Co. upgraded Westlake from an “underweight” rating to a “neutral” rating and set a $90.00 price target on the stock in a research report on Monday, May 18th. Mizuho decreased their price target on Westlake from $110.00 to $88.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. Finally, Citigroup lowered their price objective on Westlake from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.92.
View Our Latest Analysis on WLK
Westlake Price Performance
Westlake (NYSE:WLK – Get Free Report) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.18. Westlake had a negative net margin of 10.94% and a positive return on equity of 0.93%. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the firm posted ($1.11) EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts expect that Westlake will post 3.32 EPS for the current year.
Institutional Trading of Westlake
Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Westlake during the 3rd quarter valued at about $28,000. Quarry LP acquired a new stake in Westlake during the fourth quarter worth approximately $31,000. Fifth Third Bancorp increased its holdings in Westlake by 71.3% in the fourth quarter. Fifth Third Bancorp now owns 562 shares of the specialty chemicals company’s stock worth $42,000 after purchasing an additional 234 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in Westlake in the third quarter worth approximately $53,000. Finally, NewEdge Advisors LLC lifted its stake in Westlake by 49.6% in the second quarter. NewEdge Advisors LLC now owns 745 shares of the specialty chemicals company’s stock valued at $57,000 after buying an additional 247 shares during the period. 28.40% of the stock is currently owned by institutional investors and hedge funds.
Westlake Company Profile
Westlake Corp. is a global manufacturer of petrochemicals, polymers and building products, serving customers across industrial and residential markets. The company’s core operations encompass the production of vinyls—primarily polyvinyl chloride (PVC) and its key feedstock vinyl chloride monomer (VCM)—as well as chlor-alkali products including caustic soda and chlorine. In addition, Westlake produces ethylene, propylene and specialty elastomers, along with construction-related materials such as vinyl siding, trim, windows and roofing systems.
Operating a network of vertically integrated plants and distribution centers, Westlake serves markets in North America, Europe and Asia.
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