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

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

WLK has been the subject of a number of other research reports. Vertical Research cut Westlake from a “buy” rating to a “hold” rating and set a $154.00 price objective for the company. in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft raised shares of Westlake from a “hold” rating to a “buy” rating and raised their price objective for the company from $138.00 to $174.00 in a research report on Thursday, April 18th. Citigroup lifted their price objective on shares of Westlake from $162.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. Bank of America raised Westlake from a “hold” rating to a “buy” rating and raised their price objective for the company from $138.00 to $174.00 in a research note on Thursday, April 18th. Finally, Barclays increased their price target on Westlake from $160.00 to $162.00 and gave the company an “equal weight” rating in a report on Monday, June 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Westlake presently has a consensus rating of “Hold” and a consensus target price of $152.00.

Westlake Price Performance

Shares of Westlake stock opened at $146.00 on Friday. Westlake has a 52 week low of $112.77 and a 52 week high of $162.64. The company has a current ratio of 2.46, a quick ratio of 1.83 and a debt-to-equity ratio of 0.42. The stock has a market cap of $18.77 billion, a PE ratio of 73.37, a price-to-earnings-growth ratio of 1.84 and a beta of 1.26. The company’s 50-day moving average price is $153.41 and its two-hundred day moving average price is $146.40.

Westlake (NYSE:WLK) last posted its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.25. Westlake had a net margin of 2.13% and a return on equity of 7.69%. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the business posted $3.05 earnings per share. The firm’s quarterly revenue was down 11.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Westlake will post 6.62 EPS for the current fiscal year.

Insider Transactions at Westlake

In other Westlake news, CFO Mark Steven Bender sold 4,950 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $152.19, for a total transaction of $753,340.50. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 74.10% of the company’s stock.

Institutional Investors Weigh In On Westlake

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

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.