Westlake (NYSE:WLK) Price Target Cut to $135.00 by Analysts at Barclays

Westlake (NYSE:WLK) had its price target cut by stock analysts at Barclays from $175.00 to $135.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. Barclays‘s target price indicates a potential upside of 23.19% from the stock’s current price.

A number of other brokerages also recently commented on WLK. Citigroup upgraded Westlake from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $152.00 to $140.00 in a research note on Wednesday, December 18th. Truist Financial began coverage on shares of Westlake in a research report on Tuesday, January 28th. They set a “buy” rating and a $168.00 price target for the company. StockNews.com upgraded shares of Westlake from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Morgan Stanley decreased their target price on shares of Westlake from $155.00 to $130.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Piper Sandler cut 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $149.50.

Westlake Stock Performance

Shares of WLK stock opened at $109.59 on Tuesday. The company has a market cap of $14.10 billion, a P/E ratio of 154.35, a PEG ratio of 2.36 and a beta of 1.17. The business has a 50 day moving average of $114.08 and a two-hundred day moving average of $129.12. Westlake has a 52 week low of $104.74 and a 52 week high of $162.64. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41.

Insider Buying and Selling

In related news, Director David Tsung-Hung Chao sold 1,750 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $129.08, for a total transaction of $225,890.00. Following the completion of the sale, the director now directly owns 7,784 shares in the company, valued at approximately $1,004,758.72. This trade represents a 18.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 74.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WLK. Blue Trust Inc. grew its holdings in shares of Westlake by 247.7% in the 4th 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 lifted its holdings in shares of 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 purchasing an additional 379 shares during the last quarter. Transamerica Financial Advisors Inc. boosted its position in shares of Westlake by 1,668.2% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 367 shares during the period. Continuum Advisory LLC increased its stake in 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Westlake by 72.0% during the 4th quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company’s stock worth $60,000 after buying an additional 219 shares during the period. Institutional investors own 28.40% of the company’s stock.

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.