Westlake Co. (NYSE:WLK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Westlake Co. (NYSE:WLK) has been given an average rating of “Moderate Buy” by the fourteen research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $155.79.

Several analysts have recently commented on the company. Royal Bank of Canada decreased their target price on Westlake from $170.00 to $167.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Wells Fargo & Company reduced their price objective on Westlake from $180.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Piper Sandler lowered their target price on Westlake from $155.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. BMO Capital Markets dropped their target price on Westlake from $171.00 to $165.00 and set a “market perform” rating for the company in a research report on Wednesday, November 13th. Finally, StockNews.com upgraded Westlake from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th.

Insider Activity

In other news, Director David Tsung-Hung Chao sold 1,750 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $129.08, for a total transaction of $225,890.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 74.10% of the stock is owned by company insiders.

Institutional Trading of Westlake

A number of large investors have recently bought and sold shares of WLK. Blue Trust Inc. raised its holdings in shares of Westlake by 247.7% during the fourth 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 period. Allworth Financial LP lifted its holdings in shares of Westlake by 6,316.7% in 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 in the last quarter. Transamerica Financial Advisors Inc. lifted its holdings in shares of Westlake by 1,668.2% in the fourth 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 in the last quarter. Continuum Advisory LLC boosted its position in shares of Westlake by 43.2% during the third quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 96 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Westlake by 72.0% during the fourth quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company’s stock worth $60,000 after buying an additional 219 shares in the last quarter. 28.40% of the stock is owned by institutional investors.

Westlake Price Performance

Shares of Westlake stock opened at $111.19 on Friday. Westlake has a 1-year low of $108.56 and a 1-year high of $162.64. The firm’s 50-day moving average price is $114.44 and its two-hundred day moving average price is $129.74. The company has a current ratio of 2.79, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $14.31 billion, a price-to-earnings ratio of 156.60, a P/E/G ratio of 2.48 and a beta of 1.17.

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.