Recent Research Analysts’ Ratings Changes for Westlake (WLK)

A number of research firms have changed their ratings and price targets for Westlake (NYSE: WLK):

• 11/13/2024 – Westlake had its price target lowered by analysts at BMO Capital Markets from $171.00 to $165.00. They now have a “market perform” rating on the stock.
• 11/11/2024 – Westlake had its price target lowered by analysts at Royal Bank of Canada from $170.00 to $167.00. They now have an “outperform” rating on the stock.
• 11/6/2024 – Westlake had its price target lowered by analysts at Wells Fargo & Company from $180.00 to $160.00. They now have an “overweight” rating on the stock.
• 11/6/2024 – Westlake had its price target lowered by analysts at UBS Group AG from $160.00 to $144.00. They now have a “neutral” rating on the stock.
• 10/16/2024 – Westlake was upgraded by analysts at Bank of America Co. from an “underperform” rating to a “neutral” rating. They now have a $159.00 price target on the stock, up previously from $151.00.
• 10/11/2024 – Westlake had its price target lowered by analysts at Royal Bank of Canada from $174.00 to $170.00. They now have an “outperform” rating on the stock.
• 9/30/2024 – Westlake was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $180.00 price target on the stock, up previously from $162.00.
• 9/19/2024 – Westlake was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

Westlake Price Performance

Westlake stock opened at $128.31 on Thursday. The firm has a fifty day moving average of $139.54 and a 200-day moving average of $145.66. 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 Co. has a 52-week low of $118.64 and a 52-week high of $162.64. The firm has a market capitalization of $16.51 billion, a P/E ratio of 180.72, a PEG ratio of 2.36 and a beta of 1.19.

Westlake (NYSE:WLK) last issued its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.80). The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Westlake had a net margin of 0.81% and a return on equity of 6.93%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. As a group, analysts predict that Westlake Co. will post 6.76 EPS for the current year.

Institutional Trading of Westlake

Institutional investors and hedge funds have recently made changes to their positions in the stock. MetLife Investment Management LLC lifted its position in Westlake by 2.0% in the 3rd quarter. MetLife Investment Management LLC now owns 17,281 shares of the specialty chemicals company’s stock valued at $2,597,000 after purchasing an additional 331 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Westlake by 15.2% in the third quarter. BNP Paribas Financial Markets now owns 49,085 shares of the specialty chemicals company’s stock valued at $7,377,000 after purchasing an additional 6,476 shares during the period. Brooklyn Investment Group bought a new stake in shares of Westlake during the third quarter valued at approximately $62,000. Quantbot Technologies LP boosted its position in shares of Westlake by 86.9% during the third quarter. Quantbot Technologies LP now owns 30,742 shares of the specialty chemicals company’s stock worth $4,620,000 after buying an additional 14,294 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in Westlake by 11.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,024 shares of the specialty chemicals company’s stock worth $454,000 after buying an additional 300 shares in the last quarter. 28.40% of the stock is currently owned by institutional investors and hedge funds.

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.