Westrock Company (WRK) Upgraded to “Hold” by BidaskClub
Westrock Company (NYSE:WRK) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
A number of other research analysts have also issued reports on the stock. Barclays PLC increased their target price on shares of Westrock from $54.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating and set a $69.00 price target on shares of Westrock in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Westrock from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, July 13th. Finally, KeyCorp reiterated a “hold” rating on shares of Westrock in a research report on Thursday, June 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $61.91.
Shares of Westrock (NYSE:WRK) traded up 0.36% on Friday, reaching $56.27. 530,032 shares of the company’s stock were exchanged. The company has a market cap of $14.12 billion, a price-to-earnings ratio of 34.14 and a beta of 1.37. The firm’s 50-day moving average price is $57.61 and its 200 day moving average price is $54.60. Westrock has a 12 month low of $43.57 and a 12 month high of $60.36.
Westrock (NYSE:WRK) last announced its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the business posted $0.71 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts predict that Westrock will post $2.62 EPS for the current fiscal year.
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In other news, Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $56.26, for a total transaction of $581,897.18. Following the completion of the transaction, the director now owns 497,557 shares of the company’s stock, valued at $27,992,556.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 51,715 shares of company stock valued at $2,986,231 in the last ninety days. Insiders own 2.68% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Mckinley Capital Management LLC Delaware acquired a new position in Westrock during the second quarter valued at about $100,000. Sun Life Financial INC increased its position in Westrock by 26,114.3% in the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after buying an additional 1,828 shares during the last quarter. FNY Partners Fund LP increased its position in shares of Westrock by 700.0% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $104,000 after buying an additional 1,750 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Westrock by 16.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,039 shares of the basic materials company’s stock worth $106,000 after buying an additional 294 shares in the last quarter. Finally, FTB Advisors Inc. increased its position in shares of Westrock by 186.2% in the second quarter. FTB Advisors Inc. now owns 3,185 shares of the basic materials company’s stock worth $180,000 after buying an additional 2,072 shares in the last quarter. 89.85% of the stock is owned by hedge funds and other institutional investors.
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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