WestRock Co. (WRK) Sees Large Volume Increase
Shares of WestRock Co. (NYSE:WRK) saw unusually-strong trading volume on Friday . Approximately 2,207,462 shares traded hands during trading, an increase of 7% from the previous session’s volume of 2,062,085 shares.The stock last traded at $47.98 and had previously closed at $47.07.
WRK has been the topic of several recent analyst reports. Zacks Investment Research cut WestRock from a “hold” rating to a “strong sell” rating in a report on Monday, July 4th. Citigroup Inc. lifted their price objective on WestRock from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, August 5th. Barclays PLC lifted their price objective on WestRock from $41.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 11th. Jefferies Group lifted their price objective on WestRock from $50.00 to $53.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $46.00 price objective on shares of WestRock in a report on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $54.50.
The company’s market cap is $11.95 billion. The firm has a 50-day moving average of $43.31 and a 200-day moving average of $39.38.
WestRock (NYSE:WRK) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The company earned $3.60 million during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the company posted $1.15 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities research analysts forecast that WestRock Co. will post $3.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Friday, August 12th were paid a dividend of $0.375 per share. The ex-dividend date was Wednesday, August 10th. This represents a $1.50 annualized dividend and a yield of 3.12%.
A hedge fund recently raised its stake in WestRock stock. American International Group Inc. raised its stake in WestRock Co. (NYSE:WRK) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,831 shares of the company’s stock after buying an additional 401 shares during the period. American International Group Inc.’s holdings in WestRock were worth $4,600,000 as of its most recent SEC filing.
Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.
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