Westlake Chemical Hits New 52-Week High at $85.23 (WLK)
Westlake Chemical (NYSE:WLK)’s share price hit a new 52-week high during trading on Tuesday , AnalystRatings.NET reports. The company traded as high as $85.23 and last traded at $85.15, with a volume of 141,602 shares traded. The stock had previously closed at $83.76.
WLK has been the subject of a number of recent research reports. Analysts at Susquehanna raised their price target on shares of Westlake Chemical from $72.00 to $95.00 in a research note on Thursday, May 29th. They now have a “positive” rating on the stock. Separately, analysts at Macquarie raised their price target on shares of Westlake Chemical from $67.00 to $80.00 in a research note on Tuesday, May 6th. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Westlake Chemical from $74.50 to $80.00 in a research note on Tuesday, May 6th. They now have an “overweight” rating on the stock. Five analysts have rated the stock with a buy rating, Westlake Chemical currently has an average rating of “Buy” and an average price target of $78.51.
The stock has a 50-day moving average of $80.3 and a 200-day moving average of $68.36. The company has a market cap of $11.325 billion and a price-to-earnings ratio of 17.43.
Westlake Chemical (NYSE:WLK) last issued its quarterly earnings data on Monday, May 5th. The company reported $1.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.13 by $0.05. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $975.86 million. During the same quarter last year, the company posted $1.84 earnings per share. Westlake Chemical’s revenue was up 18.9% compared to the same quarter last year. On average, analysts predict that Westlake Chemical will post $5.47 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.