Westlake (NYSE:WLK) Given New $82.00 Price Target at Mizuho

Westlake (NYSE:WLK - Get Free Report) had its target price dropped by investment analysts at Mizuho from $100.00 to $82.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the specialty chemicals company's stock. Mizuho's target price suggests a potential upside of 13.64% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Barclays lowered their target price on Westlake from $135.00 to $100.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Bank of America upgraded Westlake from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $116.00 to $75.00 in a report on Tuesday, April 15th. Morgan Stanley cut their price target on Westlake from $122.00 to $98.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Piper Sandler cut their price target on Westlake from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. Finally, Royal Bank of Canada cut their price target on Westlake from $96.00 to $88.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $89.85.

Westlake Stock Performance

WLK traded up $0.05 during midday trading on Monday, reaching $72.16. The company's stock had a trading volume of 465,007 shares, compared to its average volume of 672,950. The stock has a market cap of $9.25 billion, a P/E ratio of 101.60, a PEG ratio of 2.36 and a beta of 1.03. The company has a fifty day simple moving average of $84.63 and a 200 day simple moving average of $104.41. The company has a current ratio of 2.79, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. Westlake has a twelve month low of $68.55 and a twelve month high of $156.95.

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 firm had revenue of $2.85 billion during 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 was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.34 EPS. Research analysts expect that Westlake will post 6.48 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its position in Westlake by 247.7% in the 4th quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 161 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Westlake by 251.1% in the first quarter. Private Trust Co. NA now owns 316 shares of the specialty chemicals company's stock valued at $32,000 after acquiring an additional 226 shares in the last quarter. Signaturefd LLC grew its holdings in shares of 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 acquiring an additional 239 shares in the last quarter. Allworth Financial LP lifted its stake in Westlake by 6,316.7% in 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. lifted its stake in Westlake by 1,668.2% in 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 owned by institutional investors and hedge funds.

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.