Westlake (NYSE:WLK) Given New $95.00 Price Target at Citigroup

Westlake (NYSE:WLK - Get Free Report) had its price target hoisted by analysts at Citigroup from $85.00 to $95.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the specialty chemicals company's stock. Citigroup's target price suggests a potential upside of 13.95% from the company's current price.

WLK has been the topic of a number of other research reports. Piper Sandler dropped their target price on shares of Westlake from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th. Barclays lowered their price objective on shares of Westlake from $135.00 to $100.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Morgan Stanley lowered their price objective on shares of Westlake from $122.00 to $98.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. The Goldman Sachs Group lowered their price objective on shares of Westlake from $130.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Westlake from $110.00 to $82.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $91.62.

Westlake Trading Up 5.9%

NYSE:WLK traded up $4.65 during mid-day trading on Tuesday, hitting $83.37. 572,670 shares of the company's stock were exchanged, compared to its average volume of 740,016. The company has a 50 day simple moving average of $77.51 and a 200-day simple moving average of $96.46. The company has a current ratio of 2.63, a quick ratio of 1.86 and a debt-to-equity ratio of 0.42. Westlake has a fifty-two week low of $68.55 and a fifty-two week high of $153.34. The firm has a market capitalization of $10.69 billion, a P/E ratio of 27.98, a PEG ratio of 9.65 and a beta of 0.91.

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 the consensus estimate of $0.70 by ($1.01). Westlake had a return on equity of 4.19% and a net margin of 3.23%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the business posted $1.34 EPS. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts expect that Westlake will post 6.48 earnings per share for the current year.

Hedge Funds Weigh In On Westlake

Institutional investors have recently made changes to their positions in the business. Private Trust Co. NA raised its stake in Westlake by 251.1% during the 1st 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 grew 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 buying an additional 239 shares in the last quarter. Transamerica Financial Advisors Inc. grew 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 buying an additional 367 shares in the last quarter. Fifth Third Bancorp grew its holdings in Westlake by 71.9% during the 1st quarter. Fifth Third Bancorp now owns 514 shares of the specialty chemicals company's stock valued at $51,000 after buying an additional 215 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Westlake by 33.9% during the 1st quarter. Parallel Advisors LLC now owns 525 shares of the specialty chemicals company's stock valued at $53,000 after buying an additional 133 shares in 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.

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