Westlake Chemical Corp. Hits New 52-Week High at $122.74 (WLK)
Shares of Westlake Chemical Corp. (NYSE:WLK) hit a new 52-week high on Friday, AnalystRatings.NET reports. The company traded as high as $122.74 and last traded at $121.22, with a volume of 233,989 shares trading hands. The stock had previously closed at $119.68.
A number of research firms have recently commented on WLK. Analysts at Susquehanna upgraded shares of Westlake Chemical Corp. from a “neutral” rating to a “positive” rating in a research note to investors on Friday, December 27th. They now have a $145.00 price target on the stock, up previously from $118.00. Separately, analysts at Cowen and Company raised their price target on shares of Westlake Chemical Corp. from $112.00 to $135.00 in a research note to investors on Friday, December 6th. They now have an “outperform” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Westlake Chemical Corp. from $104.00 to $112.00 in a research note to investors on Thursday, November 7th. They now have a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Westlake Chemical Corp. currently has a consensus rating of “Buy” and a consensus target price of $123.50.
Westlake Chemical Corp. has a 1-year low of $76.71 and a 1-year high of $122.16. The stock’s 50-day moving average is $116.1 and its 200-day moving average is $107.3. The company has a market cap of $8.125 billion and a price-to-earnings ratio of 15.03.
Westlake Chemical Corp. (NYSE:WLK) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.22 by $0.32. The company had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $939.14 million. During the same quarter last year, the company posted $1.47 earnings per share. Westlake Chemical Corp.’s revenue was up 22.3% compared to the same quarter last year. On average, analysts predict that Westlake Chemical Corp. will post $8.31 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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