WestRock (NYSE:WRK) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of WestRock (NYSE:WRK) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the basic materials company’s stock.

Several other analysts also recently weighed in on WRK. Wells Fargo & Company reiterated an “equal weight” rating and issued a $45.00 target price (up previously from $42.00) on shares of WestRock in a report on Thursday, January 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $42.00 price target on shares of WestRock in a research report on Friday, February 2nd. Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Finally, Truist Financial boosted their price target on shares of WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $43.00.

WestRock Stock Down 2.0 %

WRK stock opened at $47.10 on Wednesday. The company has a market cap of $12.16 billion, a price-to-earnings ratio of -7.01, a PEG ratio of 3.98 and a beta of 1.10. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. WestRock has a 12 month low of $26.85 and a 12 month high of $49.67. The firm has a 50-day moving average of $46.84 and a two-hundred day moving average of $42.08.

WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.79 billion. WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 EPS. As a group, analysts forecast that WestRock will post 1.93 earnings per share for the current fiscal year.

Insider Activity at WestRock

In related news, insider Vicki L. Lostetter sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the transaction, the insider now owns 92,117 shares of the company’s stock, valued at $3,939,844.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On WestRock

Several institutional investors and hedge funds have recently bought and sold shares of WRK. Fifth Third Bancorp increased its position in shares of WestRock by 14.2% in the third quarter. Fifth Third Bancorp now owns 9,433 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 1,174 shares in the last quarter. Cyndeo Wealth Partners LLC acquired a new stake in shares of WestRock in the 4th quarter worth about $4,584,000. Deutsche Bank AG increased its stake in WestRock by 70.4% during the 3rd quarter. Deutsche Bank AG now owns 1,825,189 shares of the basic materials company’s stock valued at $65,342,000 after buying an additional 753,828 shares during the period. Salem Investment Counselors Inc. increased its stake in WestRock by 37.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 600,682 shares of the basic materials company’s stock valued at $24,940,000 after buying an additional 165,120 shares during the period. Finally, FMR LLC increased its stake in WestRock by 140.3% during the 3rd quarter. FMR LLC now owns 2,173,923 shares of the basic materials company’s stock valued at $77,826,000 after buying an additional 1,269,375 shares during the period. Institutional investors and hedge funds own 83.38% of the company’s stock.

About WestRock

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.