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

Westlake (NYSE:WLK) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

WLK has been the subject of several other reports. Wells Fargo & Company decreased their target price on shares of Westlake from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. 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. Piper Sandler lowered their price objective on Westlake from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Bank of America raised Westlake from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $151.00 to $159.00 in a research report on Wednesday, October 16th. Finally, UBS Group decreased their price target on Westlake from $160.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Westlake currently has a consensus rating of “Hold” and a consensus target price of $162.17.

Westlake Stock Down 2.8 %

NYSE:WLK traded down $3.74 during trading hours on Tuesday, reaching $128.19. The company had a trading volume of 533,770 shares, compared to its average volume of 447,378. Westlake has a twelve month low of $118.64 and a twelve month high of $162.64. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41. The firm has a market cap of $16.50 billion, a price-to-earnings ratio of 180.55, a P/E/G ratio of 2.52 and a beta of 1.19. The business’s 50-day simple moving average is $138.12 and its two-hundred day simple moving average is $144.26.

Westlake (NYSE:WLK) last released its quarterly earnings data 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). The firm had revenue of $3.12 billion for 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 company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. On average, equities analysts expect that Westlake will post 6.47 earnings per share for the current year.

Insider Buying and Selling at Westlake

In other news, Director David Tsung-Hung Chao sold 1,750 shares of Westlake stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $130.00, for a total value of $227,500.00. Following the completion of the transaction, the director now owns 9,534 shares in the company, valued at $1,239,420. This trade represents a 15.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Pathway Financial Advisers LLC bought a new position in Westlake in the 1st quarter worth about $43,000. Continuum Advisory LLC increased its holdings in 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 acquiring an additional 96 shares during the period. Quest Partners LLC lifted its stake in Westlake by 8,400.0% in 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 in the last quarter. Brooklyn Investment Group bought a new position in Westlake in the 3rd quarter valued at $62,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Westlake in the second quarter worth $66,000. 28.40% of the stock is 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.