StockNews.com Upgrades Westlake (NYSE:WLK) to Hold

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

Several other research analysts also recently weighed in on WLK. Bank of America upgraded Westlake from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $151.00 to $159.00 in a research note on Wednesday, October 16th. Mizuho initiated coverage on Westlake in a research note on Thursday, August 8th. They set an “outperform” rating and a $170.00 price target for the company. Royal Bank of Canada cut their price target on Westlake from $170.00 to $167.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. BMO Capital Markets cut their target price on Westlake from $171.00 to $165.00 and set a “market perform” rating for the company in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. raised their target price on Westlake from $123.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $162.17.

Westlake Stock Up 0.3 %

Shares of NYSE:WLK opened at $128.55 on Tuesday. The company has a market capitalization of $16.55 billion, a PE ratio of 180.55, a price-to-earnings-growth ratio of 2.55 and a beta of 1.19. 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 business has a fifty day moving average price of $137.83 and a two-hundred day moving average price of $144.05. Westlake has a 1 year low of $118.64 and a 1 year high of $162.64.

Westlake (NYSE:WLK) last announced its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.80). The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.31 billion. Westlake had a net margin of 0.81% and a return on equity of 6.93%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 EPS. Analysts forecast that Westlake will post 6.47 earnings per share for the current year.

Insider Transactions at Westlake

In related news, Director David Tsung-Hung Chao sold 1,750 shares of Westlake stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $130.00, for a total transaction of $227,500.00. Following the sale, the director now directly owns 9,534 shares in the company, valued at $1,239,420. The trade was a 15.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Westlake

Several hedge funds have recently made changes to their positions in WLK. Advisors Asset Management Inc. boosted its position in shares of Westlake by 1.7% during the first 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. Tidal Investments LLC boosted its holdings in Westlake by 30.1% in the first quarter. Tidal Investments LLC now owns 5,017 shares of the specialty chemicals company’s stock worth $767,000 after acquiring an additional 1,162 shares in the last quarter. Comerica Bank boosted its holdings in Westlake by 17.9% in the first quarter. Comerica Bank now owns 24,490 shares of the specialty chemicals company’s stock worth $3,742,000 after acquiring an additional 3,710 shares in the last quarter. Cetera Advisors LLC bought a new stake in Westlake in the first quarter worth $316,000. Finally, Pathway Financial Advisers LLC bought a new stake in Westlake in the first quarter worth $43,000. 28.40% of the stock is currently owned by institutional investors.

Westlake Company Profile

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.