Westrock Company (WRK) Price Target Raised to $54.00 at Barclays PLC
Westrock Company (NYSE:WRK) had its target price lifted by stock analysts at Barclays PLC from $52.00 to $54.00 in a research note issued on Tuesday. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Barclays PLC’s price objective indicates a potential downside of 8.66% from the company’s previous close.
Several other equities analysts also recently commented on WRK. Zacks Investment Research upgraded Westrock from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Friday. Goldman Sachs Group, Inc. (The) upgraded Westrock from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $68.00 target price on shares of Westrock in a research report on Friday. BMO Capital Markets reiterated a “buy” rating and issued a $62.00 target price on shares of Westrock in a research report on Thursday, June 15th. Finally, KeyCorp reiterated a “hold” rating on shares of Westrock in a research report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $61.45.
Shares of Westrock (NYSE WRK) traded down 1.02% during mid-day trading on Tuesday, hitting $59.12. The stock had a trading volume of 1,029,750 shares. Westrock has a 1-year low of $40.63 and a 1-year high of $60.36. The company has a market capitalization of $14.67 billion, a P/E ratio of 82.23 and a beta of 1.37. The stock’s 50-day moving average price is $55.37 and its 200 day moving average price is $53.31.
Westrock (NYSE:WRK) last posted its earnings results on Wednesday, April 26th. The basic materials company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.47 by $0.07. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.59 billion. Westrock had a return on equity of 6.35% and a net margin of 1.29%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. On average, analysts predict that Westrock will post $2.55 EPS for the current fiscal year.
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In other news, Director John A. Luke, Jr. sold 75,000 shares of the stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $53.83, for a total value of $4,037,250.00. Following the completion of the sale, the director now owns 495,435 shares of the company’s stock, valued at $26,669,266.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.68% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Skylands Capital LLC boosted its stake in shares of Westrock by 35.2% in the first quarter. Skylands Capital LLC now owns 77,900 shares of the basic materials company’s stock valued at $4,053,000 after buying an additional 20,300 shares during the last quarter. Alpha Windward LLC boosted its stake in Westrock by 4,560.0% in the first quarter. Alpha Windward LLC now owns 9,320 shares of the basic materials company’s stock valued at $485,000 after buying an additional 9,120 shares in the last quarter. TNB Financial acquired a new stake in Westrock during the first quarter valued at approximately $217,000. Bank of Montreal Can boosted its stake in Westrock by 23.3% in the first quarter. Bank of Montreal Can now owns 702,035 shares of the basic materials company’s stock valued at $36,527,000 after buying an additional 132,593 shares in the last quarter. Finally, First American Bank boosted its stake in Westrock by 0.5% in the first quarter. First American Bank now owns 48,233 shares of the basic materials company’s stock valued at $2,510,000 after buying an additional 228 shares in the last quarter. 88.89% of the stock is owned by institutional investors.
Westrock Company Profile
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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