Research analysts at Goldman Sachs Group Inc. assumed coverage on shares of WestRock Co. (NYSE:WRK) in a research report issued to clients and investors on Thursday. The brokerage set a “neutral” rating and a $53.00 price target on the stock. Goldman Sachs Group Inc.’s price target indicates a potential upside of 9.75% from the stock’s current price.

WRK has been the topic of a number of other reports. Citigroup Inc. boosted their price target on WestRock from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Bank of America Corp. reissued a “hold” rating and issued a $45.00 price target on shares of WestRock in a report on Friday, August 5th. Jefferies Group boosted their price target on WestRock from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Credit Suisse Group AG set a $50.00 price target on WestRock and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, Deutsche Bank AG set a $50.00 price target on WestRock and gave the stock a “buy” rating in a report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $52.84.

Shares of WestRock (NYSE:WRK) opened at 48.29 on Thursday. WestRock has a 1-year low of $29.73 and a 1-year high of $57.85. The stock’s market cap is $12.01 billion. The stock’s 50 day moving average price is $46.20 and its 200-day moving average price is $41.21.

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WestRock (NYSE:WRK) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.05. WestRock had a positive return on equity of 6.71% and a negative net margin of 1.27%. The firm had revenue of $3.60 million for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the firm earned $1.15 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities research analysts forecast that WestRock will post $3.96 earnings per share for the current year.

In other WestRock news, Director John A. Luke, Jr. sold 188,103 shares of WestRock stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $46.62, for a total value of $8,769,361.86. Following the sale, the director now owns 837,343 shares of the company’s stock, valued at approximately $39,036,930.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.41% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its position in WestRock by 0.4% in the second quarter. Glenmede Trust Co. NA now owns 12,825 shares of the company’s stock valued at $497,000 after buying an additional 53 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in WestRock by 0.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 19,810 shares of the company’s stock valued at $770,000 after buying an additional 149 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in WestRock by 2.9% in the second quarter. Cubist Systematic Strategies LLC now owns 5,841 shares of the company’s stock valued at $227,000 after buying an additional 162 shares in the last quarter. Advantus Capital Management Inc increased its position in WestRock by 0.7% in the second quarter. Advantus Capital Management Inc now owns 24,495 shares of the company’s stock valued at $952,000 after buying an additional 163 shares in the last quarter. Finally, World Asset Management Inc increased its position in WestRock by 0.7% in the second quarter. World Asset Management Inc now owns 24,717 shares of the company’s stock valued at $961,000 after buying an additional 171 shares in the last quarter. 90.32% of the stock is currently owned by institutional investors and hedge funds.

WestRock Company Profile

Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.

5 Day Chart for NYSE:WRK

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