Mizuho Increases Westlake (NYSE:WLK) Price Target to $98.00

Westlake (NYSE:WLK) had its target price hoisted by equities research analysts at Mizuho from $82.00 to $98.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price objective would suggest a potential upside of 20.41% from the stock’s current price.

A number of other research firms have also recently weighed in on WLK. Wells Fargo & Company lifted their price target on Westlake from $76.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday. Barclays lowered their target price on Westlake from $135.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Royal Bank Of Canada boosted their price target on Westlake from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, July 3rd. Bank of America decreased their price target on Westlake from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. lowered their price target on Westlake from $110.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $93.77.

Westlake Stock Performance

Shares of WLK opened at $81.39 on Tuesday. The firm has a fifty day moving average of $77.39 and a 200-day moving average of $95.23. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 9.72 and a beta of 0.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.86 and a current ratio of 2.63. Westlake has a 1 year low of $68.55 and a 1 year high of $153.34.

Westlake (NYSE:WLK) last issued its quarterly earnings data on Friday, May 2nd. The specialty chemicals company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of $0.70 by ($1.01). The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.97 billion. Westlake had a net margin of 3.23% and a return on equity of 4.19%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 earnings per share. As a group, equities analysts anticipate that Westlake will post 6.48 earnings per share for the current year.

Institutional Trading of Westlake

Institutional investors have recently modified their holdings of the company. Private Trust Co. NA grew its holdings in Westlake by 251.1% during the first quarter. Private Trust Co. NA now owns 316 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 226 shares during the period. Signaturefd LLC boosted its position in shares of Westlake by 127.1% during the 1st quarter. Signaturefd LLC now owns 427 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 239 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Westlake by 107.0% during the 2nd quarter. UMB Bank n.a. now owns 565 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 292 shares in the last quarter. Transamerica Financial Advisors Inc. grew its stake in shares of Westlake by 1,668.2% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 367 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Westlake by 71.9% in the 1st quarter. Fifth Third Bancorp now owns 514 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 28.40% of the company’s stock.

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.