Westrock Company (WRK) Receives Consensus Rating of “Buy” from Brokerages
Westrock Company (NYSE:WRK) has been assigned a consensus recommendation of “Buy” from the fifteen brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $62.67.
Several analysts have recently issued reports on WRK shares. Jefferies Group LLC reissued a “buy” rating and set a $68.00 price objective on shares of Westrock in a research note on Friday, July 14th. Zacks Investment Research raised shares of Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Friday, July 14th. Barclays PLC boosted their price objective on shares of Westrock from $52.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. TheStreet raised shares of Westrock from a “c+” rating to a “b-” rating in a research note on Thursday, May 11th. Finally, Royal Bank Of Canada boosted their price objective on shares of Westrock from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, April 27th.
In related news, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction on Monday, July 17th. The shares were sold at an average price of $59.43, for a total transaction of $614,684.49. Following the transaction, the director now owns 497,557 shares in the company, valued at approximately $29,569,812.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 41,372 shares of company stock worth $2,404,334 in the last 90 days. Company insiders own 2.68% of the company’s stock.
Several institutional investors have recently bought and sold shares of WRK. Creative Planning raised its position in Westrock by 1.7% in the first quarter. Creative Planning now owns 11,121 shares of the basic materials company’s stock valued at $579,000 after buying an additional 189 shares during the last quarter. BlackRock Inc. raised its position in Westrock by 3,569.1% in the first quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock valued at $1,166,413,000 after buying an additional 21,807,090 shares during the last quarter. World Asset Management Inc raised its position in Westrock by 10.3% in the first quarter. World Asset Management Inc now owns 25,695 shares of the basic materials company’s stock valued at $1,337,000 after buying an additional 2,405 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in Westrock during the first quarter valued at $282,000. Finally, Toronto Dominion Bank raised its position in Westrock by 5.5% in the first quarter. Toronto Dominion Bank now owns 467,610 shares of the basic materials company’s stock valued at $24,327,000 after buying an additional 24,306 shares during the last quarter. Institutional investors and hedge funds own 89.22% of the company’s stock.
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Westrock (NYSE:WRK) opened at 55.23 on Friday. The firm’s 50-day moving average price is $57.69 and its 200-day moving average price is $54.53. Westrock has a 1-year low of $43.57 and a 1-year high of $60.36. The firm has a market capitalization of $14.10 billion, a PE ratio of 33.51 and a beta of 1.37.
Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the company earned $0.71 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Westrock will post $2.62 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Friday, August 11th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.90%. Westrock’s payout ratio is 97.56%.
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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