WestRock (NYSE:WRK) has been given a $70.00 target price by analysts at Deutsche Bank in a research report issued to clients and investors on Thursday. The firm presently has a “buy” rating on the basic materials company’s stock. Deutsche Bank’s price target points to a potential upside of 11.91% from the stock’s current price.
WRK has been the topic of several other research reports. Stephens assumed coverage on WestRock in a report on Tuesday, October 24th. They issued an “equal weight” rating and a $61.00 price objective on the stock. KeyCorp reiterated a “hold” rating on shares of WestRock in a report on Wednesday, October 11th. Barclays reiterated a “hold” rating on shares of WestRock in a report on Friday, November 10th. BMO Capital Markets lifted their price objective on WestRock to $68.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $65.00 price objective on shares of WestRock in a report on Monday, September 25th. Five investment 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 presently has a consensus rating of “Buy” and an average target price of $66.09.
WestRock (WRK) traded down $1.75 during midday trading on Thursday, reaching $62.55. The company’s stock had a trading volume of 2,113,744 shares, compared to its average volume of 1,454,766. WestRock has a twelve month low of $49.23 and a twelve month high of $64.87. The company has a quick ratio of 0.89, a current ratio of 1.49 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $16,330.00 and a P/E ratio of 24.41.
WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.06. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.13 billion. WestRock had a return on equity of 6.73% and a net margin of 4.77%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 earnings per share. analysts expect that WestRock will post 3.72 earnings per share for the current year.
In related news, insider Robert A. Feeser sold 29,972 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total transaction of $1,798,320.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John A. Luke, Jr. sold 10,343 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $55.12, for a total value of $570,106.16. Following the transaction, the director now owns 497,557 shares in the company, valued at approximately $27,425,341.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 161,788 shares of company stock worth $9,629,984. 2.68% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in WRK. Mckinley Capital Management LLC Delaware purchased a new position in WestRock during the 2nd quarter valued at about $100,000. Sun Life Financial INC increased its holdings in WestRock by 26,114.3% during the 2nd quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 1,828 shares during the period. Invictus RG purchased a new position in WestRock during the 3rd quarter valued at about $108,000. Old Mutual Global Investors UK Ltd. purchased a new position in WestRock during the 3rd quarter valued at about $130,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in WestRock by 25.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 509 shares in the last quarter. Institutional investors own 87.95% 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.