Westlake Co. (NYSE:WLK) Given Average Rating of “Hold” by Brokerages

Westlake Co. (NYSE:WLK) has been given a consensus rating of “Hold” by the thirteen research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $162.67.

Several analysts recently commented on the stock. UBS Group reduced their target price on shares of Westlake from $160.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. 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 research report on Monday. StockNews.com cut Westlake from a “hold” rating to a “sell” rating in a report on Thursday, September 19th. Mizuho initiated coverage on Westlake in a report on Thursday, August 8th. They issued an “outperform” rating and a $170.00 price objective on the stock. Finally, BMO Capital Markets lifted their target price on Westlake from $167.00 to $171.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th.

Westlake Price Performance

NYSE:WLK opened at $127.75 on Wednesday. Westlake has a 12-month low of $118.64 and a 12-month high of $162.64. The firm has a market capitalization of $16.44 billion, a price-to-earnings ratio of 179.93, a P/E/G ratio of 1.84 and a beta of 1.19. The stock’s 50 day moving average price is $139.73 and its two-hundred day moving average price is $145.78. The company has a quick ratio of 1.94, a current ratio of 2.79 and a debt-to-equity ratio of 0.41.

Westlake (NYSE:WLK) last posted its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.80). Westlake had a net margin of 0.81% and a return on equity of 6.93%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter last year, the company posted $2.20 EPS. The firm’s revenue was up .1% on a year-over-year basis. On average, analysts anticipate that Westlake will post 7.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its stake in shares of Westlake by 1.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 7,855 shares of the specialty chemicals company’s stock valued at $1,181,000 after purchasing an additional 89 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Westlake by 1.7% in the first quarter. Advisors Asset Management Inc. now owns 5,554 shares of the specialty chemicals company’s stock valued at $849,000 after buying an additional 91 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Westlake by 3.8% in the third quarter. Oppenheimer & Co. Inc. now owns 2,624 shares of the specialty chemicals company’s stock valued at $394,000 after acquiring an additional 97 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Westlake by 3.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,724 shares of the specialty chemicals company’s stock worth $394,000 after acquiring an additional 100 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Westlake by 3.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 3,518 shares of the specialty chemicals company’s stock worth $532,000 after acquiring an additional 116 shares in the last quarter. 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.