UBS Group Cuts Westlake (NYSE:WLK) Price Target to $144.00

Westlake (NYSE:WLK) had its target price decreased by analysts at UBS Group from $160.00 to $144.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price objective suggests a potential upside of 5.04% from the company’s current price.

Several other research firms also recently commented on WLK. Wells Fargo & Company reduced their price objective on Westlake from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday. BMO Capital Markets raised their price objective on Westlake from $167.00 to $171.00 and gave the company a “market perform” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price target on Westlake from $123.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Mizuho began coverage on Westlake in a report on Thursday, August 8th. They set an “outperform” rating and a $170.00 target price on the stock. Finally, StockNews.com downgraded shares of Westlake from a “hold” rating to a “sell” rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Westlake has a consensus rating of “Hold” and an average price target of $162.92.

Westlake Stock Up 3.4 %

Shares of WLK stock traded up $4.54 during trading hours on Wednesday, reaching $137.09. 845,535 shares of the company’s stock were exchanged, compared to its average volume of 439,452. The company has a current ratio of 2.61, a quick ratio of 1.94 and a debt-to-equity ratio of 0.41. Westlake has a 1 year low of $118.64 and a 1 year high of $162.64. The stock’s fifty day moving average price is $140.85 and its two-hundred day moving average price is $146.37. The stock has a market cap of $17.63 billion, a PE ratio of 65.59, a PEG ratio of 1.83 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.80). Westlake had a return on equity of 7.84% and a net margin of 2.27%. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The business’s revenue was up .1% on a year-over-year basis. Research analysts predict that Westlake will post 7.28 EPS for the current year.

Institutional Investors Weigh In On Westlake

Institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC purchased a new position in shares of Westlake during the first quarter worth approximately $3,254,000. Comerica Bank lifted its position in Westlake by 17.9% during the first quarter. Comerica Bank now owns 24,490 shares of the specialty chemicals company’s stock valued at $3,742,000 after purchasing an additional 3,710 shares during the period. CIBC Asset Management Inc purchased a new position in Westlake in the second quarter valued at $544,000. Avantax Advisory Services Inc. acquired a new position in shares of Westlake during the 1st quarter worth about $207,000. Finally, 1832 Asset Management L.P. acquired a new position in shares of Westlake during the 2nd quarter worth about $27,179,000. 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.