Westlake (NYSE:WLK) Price Target Increased to $168.00 by Analysts at Citigroup

Westlake (NYSE:WLKGet Free Report) had its target price raised by investment analysts at Citigroup from $162.00 to $168.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price target would suggest a potential upside of 12.53% from the stock’s previous close.

A number of other research firms also recently issued reports on WLK. Royal Bank of Canada reissued a “sector perform” rating and issued a $158.00 price target on shares of Westlake in a research note on Friday. Vertical Research cut shares of Westlake from a “buy” rating to a “hold” rating and set a $154.00 price objective on the stock. in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Westlake from a “hold” rating to a “buy” rating and increased their price target for the company from $138.00 to $174.00 in a report on Thursday, April 18th. Wells Fargo & Company increased their price target on shares of Westlake from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Finally, Bank of America upgraded shares of Westlake from a “hold” rating to a “buy” rating and increased their price target for the company from $138.00 to $174.00 in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Westlake presently has a consensus rating of “Hold” and an average target price of $151.85.

Check Out Our Latest Stock Report on Westlake

Westlake Trading Down 2.6 %

Shares of NYSE:WLK traded down $3.92 during midday trading on Friday, hitting $149.30. 129,438 shares of the stock traded hands, compared to its average volume of 399,119. The stock has a market capitalization of $19.20 billion, a PE ratio of 75.43, a P/E/G ratio of 1.93 and a beta of 1.26. The business’s 50 day moving average is $154.58 and its two-hundred day moving average is $145.06. The company has a quick ratio of 1.83, a current ratio of 2.46 and a debt-to-equity ratio of 0.42. Westlake has a one year low of $107.34 and a one year high of $162.64.

Westlake (NYSE:WLKGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.25. Westlake had a net margin of 2.13% and a return on equity of 7.69%. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the firm earned $3.05 earnings per share. Westlake’s revenue was down 11.4% on a year-over-year basis. As a group, research analysts forecast that Westlake will post 6.62 earnings per share for the current year.

Insider Activity at Westlake

In other Westlake news, CFO Mark Steven Bender sold 4,950 shares of Westlake stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $152.19, for a total value of $753,340.50. Following the completion of the transaction, the chief financial officer now directly owns 40,356 shares of the company’s stock, valued at approximately $6,141,779.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 74.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Westlake

Large investors have recently made changes to their positions in the company. CVA Family Office LLC bought a new stake in Westlake during the 4th quarter valued at about $25,000. Venturi Wealth Management LLC lifted its holdings in Westlake by 51.3% during the 4th quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 80 shares in the last quarter. GAMMA Investing LLC bought a new stake in Westlake during the 4th quarter valued at about $37,000. Pathway Financial Advisers LLC bought a new stake in Westlake during the 1st quarter valued at about $43,000. Finally, UniSuper Management Pty Ltd lifted its holdings in Westlake by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the specialty chemicals company’s stock valued at $76,000 after buying an additional 200 shares in the last quarter. 28.40% of the stock is owned by hedge funds and other 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.

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Analyst Recommendations for Westlake (NYSE:WLK)

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