WestRock (NYSE:WRK) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of WestRock (NYSE:WRK) in a research note issued to investors on Tuesday. The brokerage issued a hold rating on the basic materials company’s stock.

WRK has been the topic of several other research reports. Seaport Res Ptn cut shares of WestRock from a buy rating to a neutral rating in a research note on Monday, January 29th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $42.00 price objective on shares of WestRock in a research note on Friday, February 2nd. Truist Financial lifted their price objective on shares of WestRock from $40.00 to $48.00 and gave the stock a hold rating in a research note on Thursday, January 4th. Finally, Wells Fargo & Company reaffirmed an equal weight rating and issued a $45.00 price objective (up previously from $42.00) on shares of WestRock in a research note on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, WestRock has a consensus rating of Hold and an average target price of $42.40.

WestRock Stock Up 0.9 %

WestRock stock opened at $47.99 on Tuesday. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of -7.14, a PEG ratio of 3.86 and a beta of 1.10. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average price is $46.74 and its two-hundred day moving average price is $41.91. WestRock has a 52 week low of $26.85 and a 52 week high of $49.67.

WestRock (NYSE:WRK) last released its earnings results on Thursday, February 1st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.15). The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.79 billion. WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. On average, analysts expect that WestRock will post 1.95 EPS for the current fiscal year.

WestRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Friday, February 9th were issued a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Thursday, February 8th. WestRock’s dividend payout ratio is currently -18.01%.

Insider Buying and Selling

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.77, for a total value of $149,695.00. Following the completion of the sale, the insider now directly owns 92,117 shares in the company, valued at $3,939,844.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WestRock

Institutional investors have recently modified their holdings of the company. Ancora Advisors LLC bought a new position in shares of WestRock in the first quarter valued at approximately $29,000. NBC Securities Inc. bought a new position in WestRock during the third quarter worth $27,000. International Assets Investment Management LLC increased its position in WestRock by 268.7% during the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 575 shares during the period. OLD Point Trust & Financial Services N A bought a new position in WestRock during the fourth quarter worth $35,000. Finally, Parkside Financial Bank & Trust increased its position in WestRock by 59.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 320 shares during the period. Institutional investors own 83.38% of the company’s stock.

About WestRock

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.