Westlake (NYSE:WLK) Price Target Increased to $180.00 by Analysts at Wells Fargo & Company

Westlake (NYSE:WLKGet Free Report) had its price target boosted by Wells Fargo & Company from $150.00 to $180.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 17.36% from the company’s previous close.

Several other brokerages have also issued reports on WLK. UBS Group boosted their price target on shares of Westlake from $139.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Tudor, Pickering, Holt & Co. raised Westlake from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada reduced their price target on shares of Westlake from $139.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, February 26th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Westlake has an average rating of “Hold” and a consensus price target of $133.62.

Read Our Latest Stock Analysis on WLK

Westlake Price Performance

Shares of Westlake stock opened at $153.37 on Wednesday. The firm has a fifty day moving average price of $142.74 and a two-hundred day moving average price of $133.61. The company has a market cap of $19.66 billion, a PE ratio of 41.45, a price-to-earnings-growth ratio of 1.64 and a beta of 1.30. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.37 and a quick ratio of 1.79. Westlake has a fifty-two week low of $103.28 and a fifty-two week high of $154.46.

Westlake (NYSE:WLKGet Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.09). The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. Westlake had a net margin of 3.82% and a return on equity of 9.70%. The company’s revenue was down 14.3% on a year-over-year basis. During the same period last year, the company earned $1.79 EPS. Analysts expect that Westlake will post 6.84 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Robert F. Buesinger sold 3,878 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $144.50, for a total value of $560,371.00. Following the completion of the transaction, the executive vice president now owns 21,144 shares of the company’s stock, valued at approximately $3,055,308. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Westlake news, CFO Mark Steven Bender sold 4,804 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $141.02, for a total value of $677,460.08. Following the completion of the sale, the chief financial officer now directly owns 45,306 shares in the company, valued at $6,389,052.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert F. Buesinger sold 3,878 shares of Westlake stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $144.50, for a total value of $560,371.00. Following the transaction, the executive vice president now owns 21,144 shares in the company, valued at approximately $3,055,308. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,658 shares of company stock worth $1,923,225. Company insiders own 74.10% of the company’s stock.

Institutional Trading of Westlake

A number of large investors have recently bought and sold shares of the business. Aviva PLC boosted its holdings in shares of Westlake by 66.8% in the third quarter. Aviva PLC now owns 119,377 shares of the specialty chemicals company’s stock valued at $14,883,000 after buying an additional 47,799 shares during the period. Nordea Investment Management AB boosted its stake in Westlake by 13.1% in the 4th quarter. Nordea Investment Management AB now owns 3,260 shares of the specialty chemicals company’s stock worth $455,000 after purchasing an additional 377 shares during the period. MQS Management LLC acquired a new position in Westlake in the 3rd quarter worth $790,000. FMR LLC raised its stake in shares of Westlake by 2.1% in the 3rd quarter. FMR LLC now owns 4,630,975 shares of the specialty chemicals company’s stock valued at $577,344,000 after purchasing an additional 96,152 shares during the period. Finally, Raymond James & Associates raised its stake in shares of Westlake by 18.6% in the 3rd quarter. Raymond James & Associates now owns 37,573 shares of the specialty chemicals company’s stock valued at $4,684,000 after purchasing an additional 5,899 shares during the period. 28.40% of the stock is owned by institutional investors.

Westlake Company Profile

(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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