Truist Financial Issues Pessimistic Forecast for Westlake (NYSE:WLK) Stock Price

Westlake (NYSE:WLK) had its target price dropped by investment analysts at Truist Financial from $155.00 to $132.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Truist Financial’s price objective would suggest a potential upside of 46.67% from the stock’s current price.

Several other equities analysts have also weighed in on WLK. UBS Group cut their target price on Westlake from $144.00 to $127.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Wells Fargo & Company reduced their target price on Westlake from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Barclays lowered their price target on Westlake from $175.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Bank of America reduced their price objective on shares of Westlake from $134.00 to $116.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $105.00 target price (down from $120.00) on shares of Westlake in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Westlake has an average rating of “Moderate Buy” and an average price target of $126.23.

Westlake Stock Down 0.1 %

Shares of Westlake stock opened at $90.00 on Monday. The stock has a 50-day simple moving average of $103.84 and a 200-day simple moving average of $118.10. Westlake has a 52-week low of $81.41 and a 52-week high of $161.31. The firm has a market cap of $11.56 billion, a price-to-earnings ratio of 126.75, a P/E/G ratio of 2.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04.

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

Institutional Trading of Westlake

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. lifted its position in Westlake by 247.7% in the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 161 shares during the period. Allworth Financial LP lifted its holdings in shares of Westlake by 6,316.7% during the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 379 shares during the period. Transamerica Financial Advisors Inc. boosted its position in shares of Westlake by 1,668.2% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 367 shares in the last quarter. Fifth Third Bancorp increased its stake in Westlake by 71.9% in the first quarter. Fifth Third Bancorp now owns 514 shares of the specialty chemicals company’s stock valued at $51,000 after acquiring an additional 215 shares during the period. Finally, Parallel Advisors LLC raised its position in Westlake by 33.9% in the first quarter. Parallel Advisors LLC now owns 525 shares of the specialty chemicals company’s stock worth $53,000 after purchasing an additional 133 shares in 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.