Westrock Company (NYSE:WRK) had its price objective boosted by equities researchers at Barclays PLC from $54.00 to $58.00 in a research note issued to investors on Monday. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Barclays PLC’s target price indicates a potential upside of 1.17% from the stock’s current price.

WRK has been the subject of several other reports. BidaskClub downgraded Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Deutsche Bank AG raised their target price on Westrock from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Citigroup Inc. restated a “buy” rating on shares of Westrock in a research note on Friday, April 14th. Zacks Investment Research downgraded Westrock from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, KeyCorp restated a “hold” rating on shares of Westrock in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $61.91.

Shares of Westrock (NYSE:WRK) traded down 0.480% during mid-day trading on Monday, hitting $57.055. The stock had a trading volume of 697,681 shares. Westrock has a 1-year low of $40.63 and a 1-year high of $60.36. The company has a market cap of $14.15 billion, a P/E ratio of 79.353 and a beta of 1.37. The firm’s 50 day moving average price is $57.82 and its 200 day moving average price is $54.34.

Westrock (NYSE:WRK) last issued its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.10. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.66 billion. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. Analysts predict that Westrock will post $2.59 earnings per share for the current fiscal year.

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In other Westrock news, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $57.16, for a total transaction of $591,205.88. Following the completion of the transaction, the director now owns 497,557 shares in the company, valued at approximately $28,440,358.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 31,029 shares of company stock valued at $1,812,094 in the last quarter. Company insiders own 2.68% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in WRK. Aviva PLC increased its position in Westrock by 0.4% in the second quarter. Aviva PLC now owns 156,270 shares of the basic materials company’s stock worth $8,856,000 after buying an additional 640 shares during the period. MUFG Americas Holdings Corp increased its position in Westrock by 183.7% in the second quarter. MUFG Americas Holdings Corp now owns 8,299 shares of the basic materials company’s stock worth $470,000 after buying an additional 5,374 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Westrock by 0.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 846,673 shares of the basic materials company’s stock worth $47,972,000 after buying an additional 2,741 shares during the period. Cadence Capital Management LLC increased its position in Westrock by 7.4% in the second quarter. Cadence Capital Management LLC now owns 43,666 shares of the basic materials company’s stock worth $2,474,000 after buying an additional 3,019 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in Westrock by 0.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 370,384 shares of the basic materials company’s stock worth $20,986,000 after buying an additional 2,523 shares during the period. Institutional investors and hedge funds own 89.22% of the company’s stock.

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.

Analyst Recommendations for Westrock (NYSE:WRK)

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