BMO Capital Markets Issues Pessimistic Forecast for Westlake (NYSE:WLK) Stock Price

Westlake (NYSE:WLK - Get Free Report) had its price objective dropped by equities research analysts at BMO Capital Markets from $125.00 to $103.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "market perform" rating on the specialty chemicals company's stock. BMO Capital Markets' price objective points to a potential upside of 28.67% from the stock's previous close.

Several other research firms have also commented on WLK. UBS Group lowered their price objective on shares of Westlake from $144.00 to $127.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Citigroup cut their price target on shares of Westlake from $130.00 to $116.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Piper Sandler reiterated a "neutral" rating and set a $105.00 price objective (down previously from $120.00) on shares of Westlake in a report on Monday, April 7th. Morgan Stanley lowered their price target on Westlake from $130.00 to $122.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Finally, Royal Bank of Canada decreased their target price on Westlake from $147.00 to $133.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $107.92.

Westlake Price Performance

WLK traded down $0.39 on Tuesday, hitting $80.05. 867,336 shares of the company's stock traded hands, compared to its average volume of 596,899. The company has a current ratio of 2.79, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The company's 50 day simple moving average is $95.30 and its 200-day simple moving average is $111.21. Westlake has a one year low of $76.97 and a one year high of $161.31. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 112.75, a P/E/G ratio of 2.36 and a beta of 1.03.

Westlake (NYSE:WLK - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $2.97 billion. Westlake had a net margin of 0.81% and a return on equity of 6.93%. The business's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 EPS. As a group, research analysts anticipate that Westlake will post 6.48 EPS for the current year.

Institutional Trading of Westlake

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in Westlake by 247.7% during the 4th quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 161 shares during the period. Private Trust Co. NA lifted its position in Westlake by 251.1% during the first quarter. Private Trust Co. NA now owns 316 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 226 shares during the period. Signaturefd LLC boosted its holdings in Westlake by 127.1% in the first quarter. Signaturefd LLC now owns 427 shares of the specialty chemicals company's stock valued at $43,000 after purchasing an additional 239 shares during the last quarter. Allworth Financial LP grew its position in 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 purchasing an additional 379 shares during the period. Finally, Transamerica Financial Advisors Inc. raised its stake 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 buying an additional 367 shares during 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.