Westlake (NYSE:WLK) Given New $155.00 Price Target at Truist Financial

Westlake (NYSE:WLK - Free Report) had its price objective cut by Truist Financial from $166.00 to $155.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the specialty chemicals company's stock.

A number of other research analysts have also recently commented on WLK. Barclays reduced their price target on shares of Westlake from $175.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Morgan Stanley decreased their target price on shares of Westlake from $130.00 to $122.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of Westlake from an "underweight" rating to a "neutral" rating and cut their price target for the company from $135.00 to $110.00 in a research report on Thursday, February 27th. UBS Group raised Westlake from a "neutral" rating to a "buy" rating and set a $144.00 target price for the company in a research note on Friday, January 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Westlake from $160.00 to $130.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $138.21.

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Westlake Price Performance

Shares of WLK traded down $0.01 during trading hours on Friday, reaching $100.02. 431,635 shares of the company's stock traded hands, compared to its average volume of 543,214. Westlake has a 12 month low of $97.37 and a 12 month high of $162.64. The company has a current ratio of 2.79, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The stock has a market cap of $12.83 billion, a PE ratio of 140.87, a price-to-earnings-growth ratio of 2.36 and a beta of 1.18. The firm's 50 day simple moving average is $110.20 and its 200-day simple moving average is $122.68.

Westlake (NYSE:WLK - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The specialty chemicals company reported $0.06 earnings per share 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 firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. Equities analysts expect that Westlake will post 6.48 EPS for the current year.

Westlake Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th were given a $0.525 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $2.10 annualized dividend and a yield of 2.10%. Westlake's payout ratio is presently 45.36%.

Institutional Investors Weigh In On Westlake

Institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans boosted its position in shares of Westlake by 1.1% during the third quarter. Thrivent Financial for Lutherans now owns 7,855 shares of the specialty chemicals company's stock worth $1,181,000 after acquiring an additional 89 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Westlake by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 14,742 shares of the specialty chemicals company's stock valued at $1,690,000 after buying an additional 90 shares during the period. Continuum Advisory LLC raised its stake in shares of Westlake by 43.2% in the third quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company's stock valued at $48,000 after acquiring an additional 96 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in shares of Westlake by 2.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 4,877 shares of the specialty chemicals company's stock valued at $557,000 after buying an additional 104 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Westlake by 2.4% in the fourth quarter. Pacer Advisors Inc. now owns 4,988 shares of the specialty chemicals company's stock worth $572,000 after purchasing an additional 115 shares during the period. Hedge funds and other 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.