StockNews.com Downgrades Westlake (NYSE:WLK) to Sell

Westlake (NYSE:WLK) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

WLK has been the topic of a number of other research reports. Wells Fargo & Company cut their target price on shares of Westlake from $160.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday. Royal Bank of Canada cut their price objective on shares of Westlake from $147.00 to $133.00 and set an “outperform” rating for the company in a research report on Wednesday. Barclays decreased their target price on Westlake from $175.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday. Piper Sandler cut their price target on Westlake from $155.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley decreased their price objective on Westlake from $130.00 to $122.00 and set an “equal weight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Westlake has an average rating of “Moderate Buy” and a consensus price target of $140.07.

Westlake Trading Down 1.7 %

Shares of NYSE:WLK opened at $110.37 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.79. The stock’s 50-day moving average is $113.86 and its 200-day moving average is $128.64. The company has a market cap of $14.21 billion, a P/E ratio of 155.45, a P/E/G ratio of 2.36 and a beta of 1.17. Westlake has a 52-week low of $104.74 and a 52-week high of $162.64.

Westlake (NYSE:WLK) last released its earnings results on Monday, February 24th. The specialty chemicals company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.98). Westlake had a net margin of 0.81% and a return on equity of 6.93%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the business earned $0.72 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts predict that Westlake will post 6.48 earnings per share for the current year.

Hedge Funds Weigh In On Westlake

Several institutional investors have recently bought and sold shares of the business. Blue Trust Inc. increased its stake in shares of Westlake by 247.7% in the fourth 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. Continuum Advisory LLC lifted its holdings in Westlake by 43.2% during the 3rd quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 96 shares in the last quarter. Allworth Financial LP boosted its position in Westlake by 6,316.7% in the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 379 shares during the last quarter. Transamerica Financial Advisors Inc. increased its stake in shares of Westlake by 1,668.2% in 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 during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Westlake during the third quarter worth $62,000. Institutional investors 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.