WestRock (WRK) Upgraded to Buy at ValuEngine
WestRock (NYSE:WRK) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
WRK has been the topic of a number of other research reports. Stephens set a $72.00 price objective on WestRock and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Barclays boosted their price objective on WestRock from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, November 6th. Zacks Investment Research raised WestRock from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Saturday, February 3rd. BMO Capital Markets boosted their price objective on WestRock to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 12th. Finally, DA Davidson reissued a “buy” rating and issued a $74.00 price objective on shares of WestRock in a research note on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $73.92.
Shares of WestRock (NYSE WRK) traded up $1.40 during mid-day trading on Friday, reaching $62.33. The company had a trading volume of 2,000,000 shares, compared to its average volume of 2,130,000. The company has a current ratio of 1.28, a quick ratio of 0.74 and a debt-to-equity ratio of 0.47. The firm has a market cap of $15,880.00 and a price-to-earnings ratio of 9.13. WestRock has a twelve month low of $49.23 and a twelve month high of $71.55.
In other news, Director John A. Luke, Jr. sold 124,621 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $65.34, for a total transaction of $8,142,736.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert A. Feeser sold 29,972 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total value of $1,798,320.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,624 shares of company stock valued at $15,897,888. 2.68% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in WRK. American Century Companies Inc. raised its position in shares of WestRock by 32.6% during the fourth quarter. American Century Companies Inc. now owns 4,631,286 shares of the basic materials company’s stock worth $292,744,000 after acquiring an additional 1,138,884 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of WestRock by 2,916.4% during the second quarter. Janus Henderson Group PLC now owns 1,024,046 shares of the basic materials company’s stock worth $58,023,000 after acquiring an additional 990,097 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of WestRock during the third quarter worth $51,740,000. Alps Advisors Inc. bought a new stake in shares of WestRock during the fourth quarter worth $47,018,000. Finally, Investec Asset Management LTD increased its holdings in WestRock by 31.8% in the third quarter. Investec Asset Management LTD now owns 2,063,933 shares of the basic materials company’s stock valued at $117,087,000 after purchasing an additional 497,746 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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