Westlake Chemical Corp. Lowered to Neutral at Zacks (WLK)
Westlake Chemical Corp. (NYSE:WLK) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Thursday, American Banking & Market News reports. They currently have a $111.50 price objective on the stock. Zacks‘ price target points to a potential upside of 3.13% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wells Fargo & Co. upgraded shares of Westlake Chemical Corp. (NYSE:WLK) from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Westlake Chemical Corp. (NYSE:WLK) from an “overweight” rating to a “neutral” rating in a research note to investors on Wednesday, September 11th. They now have a $114.00 price target on the stock. Finally, analysts at Susquehanna raised their price target on shares of Westlake Chemical Corp. (NYSE:WLK) from $92.00 to $118.00 in a research note to investors on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $99.50.
Westlake Chemical Corp. (NYSE:WLK) traded down 1.43% on Thursday, hitting $106.575. 214,201 shares of the company’s stock traded hands. Westlake Chemical Corp. has a one year low of $69.01 and a one year high of $108.41. The stock’s 50-day moving average is $103.4 and its 200-day moving average is $96.04. The company has a market cap of $7.120 billion and a price-to-earnings ratio of 16.06.
Westlake Chemical Corp. (NYSE:WLK) last announced its earnings results on Tuesday, July 30th. The company reported $2.17 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.90 by $0.27. The company had revenue of $939.05 million for the quarter, compared to the consensus estimate of $948.00 million. During the same quarter in the prior year, the company posted $1.72 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Westlake Chemical Corp. will post $8.06 earnings per share for the current fiscal year.
Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated building products.
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