Shares of Westlake Chemical Corp. (NYSE:WLK) traded down 2% during mid-day trading on Friday . The company traded as low as $44.86 and last traded at $45.69, with a volume of 830,371 shares traded. The stock had previously closed at $46.60.

A number of analysts have issued reports on the stock. Cowen and Company reiterated an “outperform” rating and set a $60.00 price target (up from $53.00) on shares of Westlake Chemical Corp. in a research note on Monday, June 13th. Vetr lowered shares of Westlake Chemical Corp. from a “strong-buy” rating to a “buy” rating and set a $48.76 price target on the stock. in a research note on Monday, July 11th. Zacks Investment Research upgraded shares of Westlake Chemical Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, June 4th. JPMorgan Chase & Co. boosted their price target 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, Royal Bank Of Canada reiterated a “sector perform” rating and set a $52.00 price target (up from $50.00) 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 issued a hold rating and five have assigned a buy rating to the company’s stock. Westlake Chemical Corp. presently has a consensus rating of “Hold” and a consensus price target of $56.68.

The firm has a 50 day moving average price of $44.04 and a 200-day moving average price of $45.39. The stock has a market cap of $5.91 billion and a PE ratio of 9.64.

Westlake Chemical Corp. (NYSE:WLK) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.01. The business had revenue of $975.20 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The firm’s quarterly revenue was down 11.6% on a year-over-year basis. Equities research analysts predict that Westlake Chemical Corp. will post $3.88 EPS for the current fiscal year.

Other hedge funds and institutional investors have recently modified their holdings of the company. Morgan Stanley raised its position 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 valued at $2,067,000 after buying an additional 12,435 shares during the last quarter. WBI Investments Inc. purchased a new position in shares of Westlake Chemical Corp. during the fourth quarter valued at $2,245,000. First Trust Advisors LP raised its position 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 valued at $3,885,000 after buying an additional 5,195 shares during the last quarter. California State Teachers Retirement System raised its position 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 valued at $4,180,000 after buying an additional 1,227 shares during the last quarter. Finally, BOKF NA raised its position in shares of Westlake Chemical Corp. by 6.8% in the fourth quarter. BOKF NA now owns 26,584 shares of the company’s stock valued at $1,444,000 after buying an additional 1,695 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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