Share on StockTwits

Westlake Chemical (NYSE:WLK) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Thursday. They currently have a $100.20 price objective on the stock. Zacks‘s target price would indicate a potential upside of 2.45% from the company’s current price.

A number of other analysts have also recently weighed in on WLK. Analysts at SunTrust upgraded shares of Westlake Chemical from a “reduce” rating to a “neutral” rating in a research note on Monday, August 18th. 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 Susquehanna raised their price target on shares of Westlake Chemical from $95.00 to $100.00 in a research note on Wednesday, August 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $92.04.

Shares of Westlake Chemical (NYSE:WLK) traded down 0.14% during mid-day trading on Thursday, hitting $97.66. 171,635 shares of the company’s stock traded hands. Westlake Chemical has a one year low of $50.57 and a one year high of $98.44. The stock’s 50-day moving average is $90.50 and its 200-day moving average is $77.76. The company has a market cap of $13.036 billion and a price-to-earnings ratio of 19.66.

Westlake Chemical (NYSE:WLK) last released its 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. Analysts expect that Westlake Chemical will post $5.49 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, September 3rd. This is a positive change from Westlake Chemical’s previous quarterly dividend of $0.13.

In other Westlake Chemical news, Director James Chao unloaded 42,379 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $93.57, for a total value of $3,965,403.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Westlake Chemical Corporation, is a vertically integrated manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated building products.

To get a free copy of the research report on Westlake Chemical (WLK), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.