Westlake Co. (NYSE:WLK) Receives Average Rating of "Moderate Buy" from Brokerages

Westlake Co. (NYSE:WLK - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen research firms that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $89.85.

Several brokerages have commented on WLK. Morgan Stanley dropped their price target on Westlake from $122.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Mizuho lowered their price objective on shares of Westlake from $100.00 to $82.00 and set an "outperform" rating on the stock in a research note on Monday. Wall Street Zen cut shares of Westlake from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. Citigroup restated a "buy" rating and issued a $85.00 price target (down from $95.00) on shares of Westlake in a research report on Wednesday, May 28th. Finally, Piper Sandler cut their price objective on shares of Westlake from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Wednesday, May 14th.

Westlake Stock Performance

Shares of NYSE WLK traded up $0.74 during trading hours on Friday, hitting $72.24. 1,092,528 shares of the stock were exchanged, compared to its average volume of 673,648. Westlake has a one year low of $68.55 and a one year high of $156.95. The company's 50 day moving average is $84.63 and its 200 day moving average is $104.41. 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 firm has a market capitalization of $9.26 billion, a P/E ratio of 101.75, 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 (EPS) 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 net margin of 0.81% and a return on equity of 6.93%. The firm's revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.34 earnings per share. On average, research analysts expect that Westlake will post 6.48 EPS for the current year.

Westlake Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, May 20th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.91%. Westlake's payout ratio is presently 70.47%.

Hedge Funds Weigh In On Westlake

Several hedge funds and other institutional investors have recently modified their holdings of WLK. Blue Trust Inc. raised its stake in Westlake by 247.7% during the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 161 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Westlake by 251.1% in the 1st quarter. Private Trust Co. NA now owns 316 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 226 shares during the last quarter. Allworth Financial LP increased its position 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 purchasing an additional 379 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its holdings in 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 purchasing an additional 367 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Westlake by 127.1% during the 1st 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. 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.