Westlake Chemical Hits New 1-Year High at $90.00 (WLK)
Westlake Chemical (NYSE:WLK)’s share price hit a new 52-week high during trading on Thursday , ARN reports. The company traded as high as $90.00 and last traded at $89.55, with a volume of 307,786 shares. The stock had previously closed at $89.68.
A number of analysts have recently weighed in on WLK shares. Analysts at Zacks downgraded shares of Westlake Chemical from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 8th. They now have a $88.30 price target on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Westlake Chemical presently has an average rating of “Buy” and an average target price of $83.66.
The stock’s 50-day moving average is $84.40 and its 200-day moving average is $71.46. The company has a market cap of $11.979 billion and a price-to-earnings ratio of 18.66.
Westlake Chemical (NYSE:WLK) last posted its quarterly earnings results 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. Analysts expect that Westlake Chemical will post $5.51 EPS 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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