Westrock Company (NYSE:WRK) – Investment analysts at KeyCorp lowered their Q4 2017 EPS estimates for shares of Westrock in a research note issued on Wednesday. KeyCorp analyst A. Josephson now expects that the basic materials company will earn $0.84 per share for the quarter, down from their previous forecast of $0.90. KeyCorp currently has a “Hold” rating on the stock.

Other research analysts have also issued research reports about the company. Jefferies Group LLC restated a “buy” rating and set a $65.00 price objective on shares of Westrock in a research report on Thursday, June 22nd. Zacks Investment Research upgraded Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Friday, July 14th. Barclays PLC raised their price objective on Westrock from $52.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. BidaskClub upgraded Westrock from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Finally, BMO Capital Markets restated a “buy” rating and set a $62.00 price objective on shares of Westrock in a research report on Thursday, June 15th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $64.33.

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Westrock (NYSE:WRK) opened at 58.68 on Friday. The stock has a market capitalization of $14.72 billion, a PE ratio of 35.61 and a beta of 1.35. The stock has a 50 day moving average price of $57.48 and a 200-day moving average price of $57.48. Westrock has a 12-month low of $43.79 and a 12-month high of $59.10.

Westrock (NYSE:WRK) last posted its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the business earned $0.71 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year.

Several large investors have recently made changes to their positions in WRK. Pacer Advisors Inc. boosted its position in shares of Westrock by 3.4% during the first quarter. Pacer Advisors Inc. now owns 3,924 shares of the basic materials company’s stock valued at $204,000 after buying an additional 130 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Westrock by 8.2% during the first quarter. Neuberger Berman Group LLC now owns 12,049 shares of the basic materials company’s stock valued at $627,000 after buying an additional 914 shares during the period. Principal Financial Group Inc. boosted its position in shares of Westrock by 14.5% during the first quarter. Principal Financial Group Inc. now owns 444,146 shares of the basic materials company’s stock valued at $23,109,000 after buying an additional 56,173 shares during the period. Teachers Advisors LLC boosted its position in shares of Westrock by 15.2% during the first quarter. Teachers Advisors LLC now owns 650,466 shares of the basic materials company’s stock valued at $33,844,000 after buying an additional 85,842 shares during the period. Finally, Thrivent Financial For Lutherans boosted its position in shares of Westrock by 613.9% during the first quarter. Thrivent Financial For Lutherans now owns 893,299 shares of the basic materials company’s stock valued at $46,479,000 after buying an additional 768,168 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

In related news, Director John A. Luke, Jr. sold 87,202 shares of Westrock stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $55.06, for a total value of $4,801,342.12. Following the completion of the transaction, the director now owns 497,557 shares in the company, valued at $27,395,488.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $57.86, for a total value of $598,445.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 453,722 shares of company stock valued at $25,488,985. 2.68% of the stock is currently owned by company insiders.

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.

Earnings History and Estimates for Westrock (NYSE:WRK)

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