Westrock Company (WRK) Rating Reiterated by KeyCorp
Westrock Company (NYSE:WRK)‘s stock had its “hold” rating reiterated by equities research analysts at KeyCorp in a research note issued to investors on Wednesday.
The analysts wrote, “We are reducing our F4Q17 (quarter-end September) estimates to reflect the impact from the recent hurricanes, but raising our FY18 estimates (particularly 1Q18 and to a lesser extent 2Q18) to reflect the recent historic decline in OCC prices. We appreciate that the implied organic EBITDA growth in FY18 is now even greater, and that our FY18 estimate implies an unusually high amount of organic growth (implied margins are historically high for the Company). We do not consider FY18E EBITDA or margins normalized” for that very reason. Key Investment Points Our F4Q17 adj.””
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Westrock from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Friday, July 14th. BidaskClub cut shares of Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 target price on shares of Westrock in a research note on Thursday, June 22nd. BMO Capital Markets reiterated a “buy” rating and issued a $62.00 target price on shares of Westrock in a research note on Thursday, June 15th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $65.00 target price (up previously from $61.00) on shares of Westrock in a research note on Monday. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Westrock has a consensus rating of “Buy” and a consensus price target of $64.33.
Shares of Westrock (NYSE:WRK) traded down 0.68% during mid-day trading on Wednesday, hitting $58.57. The stock had a trading volume of 1,089,091 shares. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 35.54 and a beta of 1.35. Westrock has a one year low of $43.79 and a one year high of $60.36. The firm has a 50 day moving average of $57.38 and a 200 day moving average of $57.38.
Westrock (NYSE:WRK) last posted its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. Westrock’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that Westrock will post $2.58 earnings per share for the current year.
In other Westrock news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $58.41, for a total transaction of $1,072,874.88. Following the completion of the sale, the insider now owns 24,859 shares in the company, valued at approximately $1,452,014.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $58.61, for a total transaction of $606,203.23. Following the sale, the director now owns 497,557 shares of the company’s stock, valued at approximately $29,161,815.77. The disclosure for this sale can be found here. Insiders sold a total of 453,722 shares of company stock valued at $25,488,985 in the last 90 days. 2.68% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the business. Ronna Sue Cohen raised its position in shares of Westrock by 0.3% during the 2nd quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock valued at $261,000 after acquiring an additional 12 shares during the last quarter. Cleararc Capital Inc. raised its position in shares of Westrock by 0.7% during the 1st quarter. Cleararc Capital Inc. now owns 6,144 shares of the basic materials company’s stock valued at $320,000 after acquiring an additional 40 shares during the last quarter. Norinchukin Bank The raised its position in shares of Westrock by 0.3% during the 2nd quarter. Norinchukin Bank The now owns 20,926 shares of the basic materials company’s stock valued at $1,186,000 after acquiring an additional 54 shares during the last quarter. First Midwest Bank Trust Division raised its position in shares of Westrock by 0.5% during the 2nd quarter. First Midwest Bank Trust Division now owns 10,845 shares of the basic materials company’s stock valued at $614,000 after acquiring an additional 55 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its position in shares of Westrock by 1.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 4,495 shares of the basic materials company’s stock valued at $255,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.
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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