Brokerages Set Westlake Co. (NYSE:WLK) PT at $131.15

Westlake Co. (NYSE:WLK - Get Free Report) has earned a consensus rating of "Moderate Buy" from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $126.23.

Several brokerages have recently commented on WLK. Piper Sandler restated a "neutral" rating and set a $105.00 price target (down previously from $120.00) on shares of Westlake in a research note on Monday, April 7th. Truist Financial lowered their target price on shares of Westlake from $155.00 to $132.00 and set a "buy" rating on the stock in a research report on Monday. Barclays reduced their price target on Westlake from $175.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, February 25th. Morgan Stanley lowered 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, February 26th. Finally, Bank of America upgraded Westlake from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $116.00 to $75.00 in a report on Tuesday.

Westlake Stock Up 1.7 %

WLK traded up $1.50 during trading on Friday, reaching $91.82. 47,795 shares of the stock traded hands, compared to its average volume of 562,352. The stock's 50-day simple moving average is $103.42 and its two-hundred day simple moving average is $117.91. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04. Westlake has a fifty-two week low of $81.41 and a fifty-two week high of $161.31. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 129.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02.

Westlake (NYSE:WLK - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The specialty chemicals company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $3.01 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. The firm's quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts expect that Westlake will post 6.48 EPS for the current year.

Westlake Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Tuesday, March 4th. Westlake's dividend payout ratio is currently 45.36%.

Institutional Investors Weigh In On Westlake

A number of institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Westlake by 247.7% in the 4th quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 161 shares during the period. Continuum Advisory LLC boosted its stake in Westlake by 43.2% during the third 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 increased its holdings 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 period. Transamerica Financial Advisors Inc. raised 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 in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Westlake by 71.9% during the 1st quarter. Fifth Third Bancorp now owns 514 shares of the specialty chemicals company's stock worth $51,000 after acquiring an additional 215 shares during the period. 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.