UBS Group Issues Pessimistic Forecast for Westlake (NYSE:WLK) Stock Price

Westlake (NYSE:WLK) had its target price reduced by analysts at UBS Group from $144.00 to $127.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. UBS Group’s target price points to a potential upside of 53.46% from the company’s previous close.

WLK has been the subject of a number of other research reports. Wells Fargo & Company decreased their price target on Westlake from $160.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Truist Financial lowered their price target on shares of Westlake from $166.00 to $155.00 and set a “buy” rating for the company in a report on Friday, March 28th. StockNews.com lowered shares of Westlake from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. BMO Capital Markets lowered their target price on Westlake from $157.00 to $132.00 and set a “market perform” rating for the company in a research note on Wednesday, February 26th. Finally, Barclays cut their price target on Westlake from $175.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.69.

Westlake Price Performance

WLK opened at $82.76 on Monday. The company has a 50 day moving average of $106.44 and a two-hundred day moving average of $120.29. Westlake has a 52-week low of $81.41 and a 52-week 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 company has a market cap of $10.63 billion, a P/E ratio of 116.56, a P/E/G ratio of 2.36 and a beta of 1.02.

Westlake (NYSE:WLK) last announced its quarterly earnings results on Monday, February 24th. The specialty chemicals company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.98). Westlake had a net margin of 0.81% and a return on equity of 6.93%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts expect that Westlake will post 6.48 earnings per share for the current year.

Institutional Investors Weigh In On Westlake

A number of institutional investors have recently modified their holdings of the business. Blue Trust Inc. grew 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 valued at $26,000 after purchasing an additional 161 shares during the last quarter. Continuum Advisory LLC grew its stake 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 buying an additional 96 shares during the last quarter. Allworth Financial LP increased its position in Westlake by 6,316.7% in the fourth quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 379 shares during the period. Transamerica Financial Advisors Inc. lifted its stake in 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 buying an additional 367 shares during the last quarter. Finally, GAMMA Investing LLC grew its position 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 acquiring an additional 219 shares during the last quarter. Institutional investors 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.