Westlake (NYSE:WLK) Given New $98.00 Price Target at Mizuho

Westlake (NYSE:WLK - Get Free Report) had its target price hoisted by stock analysts at Mizuho from $82.00 to $98.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the specialty chemicals company's stock. Mizuho's price target suggests a potential upside of 19.74% from the company's current price.

Other research analysts have also issued reports about the stock. Citigroup lifted their price objective on shares of Westlake from $85.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wall Street Zen lowered shares of Westlake from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. The Goldman Sachs Group dropped their price objective on shares of Westlake from $130.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Truist Financial dropped their price objective on shares of Westlake from $117.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Finally, Bank of America dropped their price objective on shares of Westlake from $90.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. One investment 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 data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $93.77.

Westlake Stock Performance

WLK traded down $1.49 on Tuesday, reaching $81.84. The company had a trading volume of 615,904 shares, compared to its average volume of 752,832. Westlake has a 1 year low of $68.55 and a 1 year high of $153.34. The stock has a market capitalization of $10.50 billion, a PE ratio of 27.46, a P/E/G ratio of 9.91 and a beta of 0.91. The company has a quick ratio of 1.86, a current ratio of 2.63 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $77.32 and a 200-day moving average price of $95.32.

Westlake (NYSE:WLK - Get Free Report) last announced its quarterly 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). Westlake had a net margin of 3.23% and a return on equity of 4.19%. The company had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.97 billion. During the same period last year, the firm earned $1.34 earnings per share. Westlake's revenue was down 4.3% on a year-over-year basis. As a group, research analysts forecast that Westlake will post 6.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Westlake

Large investors have recently made changes to their positions in the business. Private Trust Co. NA grew its holdings in Westlake by 251.1% during the 1st quarter. Private Trust Co. NA now owns 316 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 226 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its stake 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 acquiring an additional 367 shares during the last quarter. Signaturefd LLC boosted its stake 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 acquiring an additional 239 shares during the last quarter. Fifth Third Bancorp boosted its stake 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 acquiring an additional 215 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake 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 acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 28.40% of the company's stock.

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.