Westlake Chemical Hits New 52-Week High at $92.35 (WLK)
Shares of Westlake Chemical (NYSE:WLK) hit a new 52-week high during mid-day trading on Monday , Analyst Ratings.Net reports. The stock traded as high as $92.35 and last traded at $91.49, with a volume of 667,453 shares traded. The stock had previously closed at $89.17.
A number of analysts have recently weighed in on WLK shares. Analysts at SunTrust upgraded shares of Westlake Chemical from a “reduce” rating to a “neutral” rating in a research note on Monday. Separately, 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. Finally, 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $90.44.
The stock has a 50-day moving average of $86.98 and a 200-day moving average of $74.62. The company has a market cap of $12.247 billion and a P/E ratio of 17.92.
Westlake Chemical (NYSE:WLK) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.26 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $2.17 earnings per share. Westlake Chemical’s revenue was up 6.3% compared to the same quarter last year. On average, analysts predict that Westlake Chemical will post $5.51 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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