Westlake (NYSE:WLK) Upgraded to Hold at StockNews.com

Westlake (NYSE:WLK) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other analysts have also recently issued reports on the stock. Piper Sandler cut their target price on shares of Westlake from $155.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. BMO Capital Markets cut their price objective on shares of Westlake from $157.00 to $132.00 and set a “market perform” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley decreased their target price on Westlake from $130.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. UBS Group upgraded Westlake from a “neutral” rating to a “buy” rating and set a $144.00 price target for the company in a research note on Friday, January 10th. Finally, Truist Financial lowered their price objective on Westlake from $168.00 to $166.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.07.

Westlake Stock Down 1.9 %

Shares of NYSE:WLK traded down $1.94 during midday trading on Tuesday, hitting $100.71. The stock had a trading volume of 1,006,358 shares, compared to its average volume of 518,411. The company has a market cap of $12.91 billion, a P/E ratio of 141.85, a PEG ratio of 2.36 and a beta of 1.18. Westlake has a 12 month low of $99.18 and a 12 month high of $162.64. The business’s 50-day simple moving average is $111.54 and its 200-day simple moving average is $123.68. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41.

Westlake (NYSE:WLK) last issued its earnings results on Monday, February 24th. The specialty chemicals company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.98). Westlake had a net margin of 0.81% and a return on equity of 6.93%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts forecast that Westlake will post 6.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Westlake

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in Westlake by 247.7% during the 4th quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 161 shares during the period. Continuum Advisory LLC lifted its holdings in Westlake by 43.2% in the third quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 96 shares during the period. Allworth Financial LP boosted its position in Westlake by 6,316.7% during the fourth quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 379 shares during the last quarter. Transamerica Financial Advisors Inc. grew its holdings in Westlake by 1,668.2% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 367 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Westlake in the 3rd quarter valued at about $62,000. Institutional investors and hedge funds own 28.40% of the company’s stock.

Westlake Company Profile

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.