Morgan Stanley Has Lowered Expectations for Westlake (NYSE:WLK) Stock Price

Westlake (NYSE:WLK - Get Free Report) had its price objective decreased by investment analysts at Morgan Stanley from $122.00 to $98.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the specialty chemicals company's stock. Morgan Stanley's price target suggests a potential upside of 14.06% from the stock's previous close.

WLK has been the subject of several other research reports. Citigroup cut their price objective on shares of Westlake from $130.00 to $116.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Truist Financial decreased their target price on shares of Westlake from $132.00 to $117.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Royal Bank of Canada dropped their price target on Westlake from $122.00 to $96.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Wells Fargo & Company cut their price objective on Westlake from $110.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Barclays lowered their target price on Westlake from $135.00 to $100.00 and set an "overweight" rating for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Westlake currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.08.

Westlake Stock Up 7.4%

WLK traded up $5.92 during trading hours on Monday, hitting $85.92. 276,780 shares of the company's stock were exchanged, compared to its average volume of 595,829. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 120.94, a PEG ratio of 2.36 and a beta of 1.03. Westlake has a 1-year low of $76.97 and a 1-year high of $161.31. The stock's 50-day moving average is $95.30 and its two-hundred day moving average is $111.05. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41.

Westlake (NYSE:WLK - Get Free Report) last announced its earnings results on Friday, May 2nd. The specialty chemicals company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($1.01). The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.97 billion. Westlake had a return on equity of 6.93% and a net margin of 0.81%. Westlake's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. Sell-side analysts predict that Westlake will post 6.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WLK. GAMMA Investing LLC boosted its holdings in Westlake by 72.0% in the 4th quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company's stock valued at $60,000 after purchasing an additional 219 shares during the period. Avanza Fonder AB purchased a new stake in Westlake during the fourth quarter valued at about $307,000. Wedge Capital Management L L P NC increased its holdings in shares of Westlake by 7.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 79,178 shares of the specialty chemicals company's stock worth $9,078,000 after buying an additional 5,512 shares during the period. SG Americas Securities LLC bought a new stake in shares of Westlake in the 4th quarter valued at about $11,480,000. Finally, Janney Montgomery Scott LLC boosted its holdings in Westlake by 27.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 59,499 shares of the specialty chemicals company's stock valued at $6,822,000 after acquiring an additional 12,833 shares during the period. Institutional investors own 28.40% of the company's stock.

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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