Westlake Chemical Corporation (WLK) Price Target Raised to $108.00
Westlake Chemical Corporation (NYSE:WLK) had its price objective upped by Nomura from $98.00 to $108.00 in a report released on Wednesday. Nomura currently has a buy rating on the specialty chemicals company’s stock.
Several other research firms have also weighed in on WLK. ValuEngine raised Westlake Chemical Corporation from a hold rating to a buy rating in a research note on Tuesday. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $93.00 price objective on shares of Westlake Chemical Corporation in a research note on Friday, November 3rd. Johnson Rice assumed coverage on Westlake Chemical Corporation in a research note on Monday, November 6th. They issued an accumulate rating and a $100.00 price objective on the stock. Cowen and Company raised their price objective on Westlake Chemical Corporation from $78.00 to $92.00 and gave the company an outperform rating in a research note on Tuesday, October 10th. Finally, UBS AG lifted their price target on Westlake Chemical Corporation from $56.00 to $61.00 and gave the company a sell rating in a research note on Friday, October 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $92.73.
Shares of Westlake Chemical Corporation (NYSE WLK) opened at $92.99 on Wednesday. The firm has a market capitalization of $12,058.63, a PE ratio of 18.72, a P/E/G ratio of 2.30 and a beta of 1.67. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.31 and a quick ratio of 1.50. Westlake Chemical Corporation has a 12 month low of $52.45 and a 12 month high of $96.14.
In other news, VP Mark Steven Bender sold 13,794 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $70.22, for a total transaction of $968,614.68. Following the completion of the transaction, the vice president now directly owns 44,449 shares in the company, valued at $3,121,208.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 71.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. raised its position in shares of Westlake Chemical Corporation by 162.8% during the second quarter. Advisors Asset Management Inc. now owns 2,276 shares of the specialty chemicals company’s stock worth $151,000 after acquiring an additional 1,410 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Westlake Chemical Corporation during the third quarter worth about $204,000. HL Financial Services LLC bought a new position in shares of Westlake Chemical Corporation during the third quarter worth about $210,000. Morse Asset Management Inc bought a new position in shares of Westlake Chemical Corporation during the third quarter worth about $256,000. Finally, Verity Asset Management Inc. bought a new position in shares of Westlake Chemical Corporation during the second quarter worth about $204,000. Institutional investors own 32.04% of the company’s stock.
Westlake Chemical Corporation Company Profile
Westlake Chemical Corporation is a 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 consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.
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