Westlake (NYSE:WLK) Price Target Lowered to $127.00 at UBS Group

Westlake (NYSE:WLK - Free Report) had its target price reduced by UBS Group from $144.00 to $127.00 in a report released on Monday,Benzinga reports. UBS Group currently has a buy rating on the specialty chemicals company's stock.

Several other research analysts have also recently issued reports on WLK. Piper Sandler reiterated a "neutral" rating and issued a $105.00 price objective (down from $120.00) on shares of Westlake in a report on Monday, April 7th. Barclays cut their price objective on Westlake from $175.00 to $135.00 and set an "overweight" rating for the company in a report on Tuesday, February 25th. BMO Capital Markets dropped their price target on shares of Westlake from $157.00 to $132.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada reduced 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, February 26th. Finally, Truist Financial cut their target price on shares of Westlake from $166.00 to $155.00 and set a "buy" rating for the company in a research note on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $131.15.

Westlake Stock Performance

Shares of NYSE WLK traded up $2.72 during midday trading on Monday, hitting $89.70. 654,075 shares of the company's stock were exchanged, compared to its average volume of 562,890. Westlake has a twelve month low of $81.41 and a twelve month high of $161.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04. The firm has a market cap of $11.52 billion, a P/E ratio of 126.33, a PEG ratio of 2.36 and a beta of 1.02. The stock's 50 day moving average price is $104.69 and its 200-day moving average price is $118.94.

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

Westlake Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders 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 dividend yield of 2.34%. Westlake's dividend payout ratio (DPR) is presently 45.36%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WLK. Treasurer of the State of North Carolina increased its stake in shares of Westlake by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 14,742 shares of the specialty chemicals company's stock worth $1,690,000 after acquiring an additional 90 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of 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 purchasing an additional 96 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Westlake by 2.2% in the 4th 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 in the last quarter. Pacer Advisors Inc. increased its holdings 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 buying an additional 115 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Westlake by 33.9% during the first 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 in the last quarter. 28.40% of the stock is owned by institutional investors and hedge funds.

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.