Westlake Chemical Corp. (NYSE:WLK)’s share price gapped up prior to trading on Friday . The stock had previously closed at $41.46, but opened at $41.83. Westlake Chemical Corp. shares last traded at $43.58, with a volume of 276,213 shares traded.

WLK has been the topic of several research reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $52.00 price target (up from $50.00) on shares of Westlake Chemical Corp. in a research note on Monday, June 13th. Zacks Investment Research raised shares of Westlake Chemical Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, June 4th. SunTrust Banks Inc. raised shares of Westlake Chemical Corp. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $52.00 in a research note on Wednesday, June 15th. JPMorgan Chase & Co. lifted their target price on shares of Westlake Chemical Corp. from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, May 16th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $60.00 target price (up from $53.00) on shares of Westlake Chemical Corp. in a research note on Monday, June 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.56.

The company has a market capitalization of $5.67 billion and a price-to-earnings ratio of 9.25. The firm’s 50 day moving average price is $43.69 and its 200 day moving average price is $45.90.

Westlake Chemical Corp. (NYSE:WLK) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. During the same period in the previous year, the company posted $1.10 earnings per share. The business earned $975.20 million during the quarter, compared to analyst estimates of $1.02 billion. Westlake Chemical Corp.’s revenue was down 11.6% on a year-over-year basis. On average, equities analysts anticipate that Westlake Chemical Corp. will post $3.96 EPS for the current year.

A number of large investors have modified their holdings of WLK. Morgan Stanley boosted its stake in shares of Westlake Chemical Corp. by 48.5% in the fourth quarter. Morgan Stanley now owns 38,055 shares of the company’s stock worth $2,067,000 after buying an additional 12,435 shares during the last quarter. WBI Investments Inc. acquired a new stake in shares of Westlake Chemical Corp. during the fourth quarter worth approximately $2,245,000. Miller Howard Investments Inc. NY boosted its stake in shares of Westlake Chemical Corp. by 36.5% in the fourth quarter. Miller Howard Investments Inc. NY now owns 122,233 shares of the company’s stock worth $6,640,000 after buying an additional 32,708 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Westlake Chemical Corp. by 7.8% in the fourth quarter. First Trust Advisors LP now owns 71,513 shares of the company’s stock worth $3,885,000 after buying an additional 5,195 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Westlake Chemical Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 76,954 shares of the company’s stock worth $4,180,000 after buying an additional 1,227 shares during the last quarter.

Westlake Chemical Corporation is a vertically integrated global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various diverse consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, residential and commercial construction, as well as other durable and non-durable goods.

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