Westlake Co. (NYSE:WLK) Receives $162.67 Consensus PT from Analysts

Shares of Westlake Co. (NYSE:WLK) have been given a consensus rating of “Hold” by the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $162.17.

Several analysts have recently commented on the company. Royal Bank of Canada reduced their price target on Westlake from $170.00 to $167.00 and set an “outperform” rating for the company in a report on Monday, November 11th. StockNews.com lowered shares of Westlake from a “hold” rating to a “sell” rating in a research report on Thursday, September 19th. Bank of America upgraded shares of Westlake from an “underperform” rating to a “neutral” rating and increased their price target for the company from $151.00 to $159.00 in a report on Wednesday, October 16th. BMO Capital Markets lowered their target price on shares of Westlake from $171.00 to $165.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 13th. Finally, Mizuho assumed coverage on shares of Westlake in a research report on Thursday, August 8th. They set an “outperform” rating and a $170.00 price target for the company.

Westlake Price Performance

Shares of NYSE WLK opened at $126.66 on Wednesday. The stock has a fifty day moving average price of $139.18 and a 200 day moving average price of $145.32. Westlake has a 1-year low of $118.64 and a 1-year high of $162.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04. The company has a market cap of $16.30 billion, a PE ratio of 178.39, a P/E/G ratio of 2.34 and a beta of 1.19.

Westlake (NYSE:WLK) last released its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.41 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.80). Westlake had a return on equity of 6.93% and a net margin of 0.81%. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the business posted $2.20 EPS. The firm’s revenue was up .1% on a year-over-year basis. Sell-side analysts forecast that Westlake will post 6.76 EPS for the current year.

Institutional Investors Weigh In On Westlake

A number of large investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans lifted its position in shares of Westlake by 1.1% in the third quarter. Thrivent Financial for Lutherans now owns 7,855 shares of the specialty chemicals company’s stock valued at $1,181,000 after acquiring an additional 89 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Westlake by 1.7% in the 1st quarter. Advisors Asset Management Inc. now owns 5,554 shares of the specialty chemicals company’s stock valued at $849,000 after purchasing an additional 91 shares in the last quarter. Continuum Advisory LLC boosted its stake in shares of Westlake by 43.2% during 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. Oppenheimer & Co. Inc. grew its holdings in shares of Westlake by 3.8% during the third quarter. Oppenheimer & Co. Inc. now owns 2,624 shares of the specialty chemicals company’s stock worth $394,000 after buying an additional 97 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Westlake by 3.8% in the second quarter. Daiwa Securities Group Inc. now owns 2,724 shares of the specialty chemicals company’s stock valued at $394,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds 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.