WestRock (WRK) Price Target Cut to $53.00 by Analysts at Wells Fargo & Co
WestRock (NYSE:WRK) had its target price cut by Wells Fargo & Co from $63.00 to $53.00 in a research report released on Tuesday. They currently have a market perform rating on the basic materials company’s stock.
WRK has been the topic of a number of other reports. Zacks Investment Research lowered shares of WestRock from a hold rating to a sell rating in a research note on Thursday, October 4th. ValuEngine lowered shares of WestRock from a hold rating to a sell rating in a research note on Monday, July 2nd. Citigroup cut their price target on shares of WestRock from $80.00 to $75.00 and set a buy rating on the stock in a research note on Tuesday, July 10th. BMO Capital Markets lowered shares of WestRock from an outperform rating to a market perform rating and cut their price target for the stock from $80.00 to $54.00 in a research note on Tuesday. Finally, Stephens set a $63.00 price target on shares of WestRock and gave the stock a weight rating in a research note on Thursday, July 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $67.73.
Shares of WRK opened at $42.61 on Tuesday. The stock has a market capitalization of $13.63 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.18 and a beta of 1.32. WestRock has a 12-month low of $41.86 and a 12-month high of $71.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 1.56.
Large investors have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of WestRock during the first quarter worth approximately $121,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of WestRock during the first quarter worth approximately $160,000. Piedmont Investment Advisors LLC purchased a new stake in shares of WestRock during the second quarter worth approximately $171,000. Cerebellum GP LLC purchased a new stake in shares of WestRock during the third quarter worth approximately $182,000. Finally, Exane Asset Management purchased a new stake in shares of WestRock during the second quarter worth approximately $201,000. Institutional investors own 85.14% of the company’s stock.
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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