Westlake (NYSE:WLK) Stock Rating Upgraded by StockNews.com

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

Other research analysts have also recently issued research reports about the company. Piper Sandler dropped their price target on Westlake from $155.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company lowered their target price on Westlake from $160.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Barclays decreased their target price on shares of Westlake from $175.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. UBS Group raised 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, Citigroup raised shares of Westlake from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $152.00 to $140.00 in a research report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Westlake has a consensus rating of “Moderate Buy” and an average price target of $140.07.

Westlake Stock Performance

Shares of WLK traded down $1.94 during midday trading on Tuesday, hitting $100.71. 1,006,358 shares of the stock traded hands, compared to its average volume of 518,411. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.79. Westlake has a 1-year low of $99.18 and a 1-year high of $162.64. The business’s 50 day moving average price is $111.54 and its two-hundred day moving average price is $123.68. The firm has a market capitalization of $12.91 billion, a PE ratio of 141.85, a price-to-earnings-growth ratio of 2.36 and a beta of 1.18.

Westlake (NYSE:WLK) last issued its quarterly earnings data 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 return on equity of 6.93% and a net margin of 0.81%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the company earned $0.72 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts predict that Westlake will post 6.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Westlake

A number of large investors have recently bought and sold shares of the business. Blue Trust Inc. raised its stake in shares of Westlake by 247.7% in the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 161 shares during the last quarter. Allworth Financial LP grew its position in shares of Westlake by 6,316.7% during the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 379 shares during the period. Transamerica Financial Advisors Inc. raised its position in shares of Westlake by 1,668.2% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 367 shares during the last quarter. Continuum Advisory LLC boosted its position in shares of Westlake by 43.2% in the 3rd quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 96 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Westlake by 72.0% during the fourth quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 219 shares during the period. 28.40% of the stock is currently owned by institutional investors.

About Westlake

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.