Westlake (NYSE:WLK) Stock Rating Upgraded by UBS Group

Westlake (NYSE:WLK) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Friday, Marketbeat Ratings reports. The firm presently has a $144.00 price objective on the specialty chemicals company’s stock. UBS Group’s target price suggests a potential upside of 30.87% from the company’s previous close.

Several other research analysts have also weighed in on WLK. Wells Fargo & Company lowered their price objective on Westlake from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. BMO Capital Markets lowered their target price on Westlake from $171.00 to $165.00 and set a “market perform” rating for the company in a report on Wednesday, November 13th. Barclays raised Westlake from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $162.00 to $180.00 in a research note on Monday, September 30th. Bank of America raised shares of Westlake from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $151.00 to $159.00 in a research report on Wednesday, October 16th. Finally, Citigroup upgraded shares of Westlake from a “neutral” rating to a “buy” rating and dropped their target price for the company from $152.00 to $140.00 in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.92.

Westlake Trading Down 0.5 %

Shares of NYSE WLK opened at $110.03 on Friday. The stock has a market cap of $14.16 billion, a P/E ratio of 154.97, a price-to-earnings-growth ratio of 2.31 and a beta of 1.18. The firm has a 50 day moving average price of $122.17 and a two-hundred day moving average price of $135.67. 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 52-week low of $108.95 and a 52-week high of $162.64.

Westlake (NYSE:WLK) last announced its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share (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 company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the business earned $2.20 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities analysts forecast that Westlake will post 6.47 EPS for the current year.

Insider Buying and Selling at Westlake

In other Westlake news, Director David Tsung-Hung Chao sold 1,750 shares of Westlake 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 transaction, the director now owns 7,784 shares of the company’s stock, valued at $1,004,758.72. This trade represents a 18.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 74.10% of the company’s stock.

Hedge Funds Weigh In On Westlake

Institutional investors have recently modified their holdings of the business. Continuum Advisory LLC boosted its position in Westlake by 43.2% in the third 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. Quest Partners LLC raised its stake in shares of Westlake by 8,400.0% during the 2nd quarter. Quest Partners LLC now owns 340 shares of the specialty chemicals company’s stock worth $49,000 after purchasing an additional 336 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Westlake by 72.0% in 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 last quarter. Versant Capital Management Inc boosted its holdings in shares of Westlake by 84.4% in the 4th quarter. Versant Capital Management Inc now owns 531 shares of the specialty chemicals company’s stock worth $61,000 after buying an additional 243 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in Westlake during the third quarter valued at about $62,000. 28.40% of the stock is 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.