SunTrust Upgrades Westlake Chemical to “Neutral” (WLK)
Westlake Chemical (NYSE:WLK) was upgraded by research analysts at SunTrust from a “reduce” rating to a “neutral” rating in a report released on Monday, TheFlyOnTheWall.com reports.
Westlake Chemical (NYSE:WLK) opened at 89.17 on Monday. Westlake Chemical has a 52 week low of $49.185 and a 52 week high of $91.97. The stock’s 50-day moving average is $86.98 and its 200-day moving average is $74.62. The company has a market cap of $11.903 billion and a P/E ratio of 17.90.
Westlake Chemical (NYSE:WLK) last announced its earnings results on Tuesday, August 5th. The company reported $1.26 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.44 by $0.18. The company had revenue of $998.60 million for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts expect that Westlake Chemical will post $5.51 EPS for the current fiscal year.
WLK has been the subject of a number of other recent research reports. Analysts at Cowen and Company raised their price target on shares of Westlake Chemical from $75.00 to $100.00 in a research note on Friday, August 8th. They now have an “outperform” rating on the stock. Separately, analysts at Zacks upgraded shares of Westlake Chemical from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 6th. They now have a $92.20 price target on the stock. Finally, analysts at Susquehanna raised their price target on shares of Westlake Chemical from $95.00 to $100.00 in a research note on Wednesday, August 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $90.44.
Westlake Chemical Corporation, is a vertically integrated manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated building products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.