JPMorgan Chase & Co. Issues Pessimistic Forecast for Westlake (NYSE:WLK) Stock Price

Westlake (NYSE:WLK - Get Free Report) had its price target dropped by analysts at JPMorgan Chase & Co. from $110.00 to $82.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the specialty chemicals company's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 5.28% from the stock's current price.

WLK has been the subject of a number of other research reports. Truist Financial dropped their target price on shares of Westlake from $132.00 to $117.00 and set a "buy" rating for the company in a research report on Monday. UBS Group reduced their target price on shares of Westlake from $144.00 to $127.00 and set a "buy" rating on the stock in a report on Monday, April 7th. StockNews.com raised Westlake from a "sell" rating to a "hold" rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their target price on Westlake from $110.00 to $95.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, BMO Capital Markets dropped their target price on Westlake from $125.00 to $103.00 and set a "market perform" rating on the stock in a report on Tuesday. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Westlake has an average rating of "Moderate Buy" and a consensus price target of $112.08.

Westlake Price Performance

Shares of NYSE WLK traded down $0.33 on Tuesday, hitting $77.89. The company's stock had a trading volume of 212,548 shares, compared to its average volume of 582,531. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04. The stock has a 50 day moving average of $97.72 and a 200-day moving average of $112.64. Westlake has a 12-month low of $77.37 and a 12-month high of $161.31. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of 110.35, a price-to-earnings-growth ratio of 2.36 and a beta of 1.03.

Westlake (NYSE:WLK - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The specialty chemicals company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($1.01). The business had revenue of $2.85 billion during 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%. Westlake's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 EPS. As a group, research analysts predict that Westlake will post 6.48 EPS for the current year.

Hedge Funds Weigh In On Westlake

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Westlake by 247.7% in the 4th quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 161 shares during the last quarter. Private Trust Co. NA raised its stake 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 lifted its holdings in Westlake by 127.1% in the first quarter. Signaturefd LLC now owns 427 shares of the specialty chemicals company's stock worth $43,000 after acquiring an additional 239 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Westlake by 6,316.7% during the fourth quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company's stock valued at $45,000 after purchasing an additional 379 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. grew its holdings in shares of Westlake by 1,668.2% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company's stock valued at $45,000 after purchasing an additional 367 shares during the last quarter. 28.40% of the stock is currently owned by institutional investors.

Westlake Company Profile

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.

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