WestRock (NYSE:WRK) had its price target increased by stock analysts at BMO Capital Markets to $68.00 in a report released on Tuesday, The Fly reports. The firm presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 7.75% from the company’s previous close.
Several other brokerages have also recently weighed in on WRK. DA Davidson reiterated a “buy” rating and issued a $74.00 target price on shares of WestRock in a report on Friday, November 3rd. BidaskClub upgraded WestRock from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Deutsche Bank reissued a “buy” rating and issued a $65.00 price target (up from $61.00) on shares of WestRock in a research report on Monday, October 9th. Zacks Investment Research lowered WestRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $65.00 price target on shares of WestRock in a research report on Monday, September 25th. Five 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’s stock. The stock presently has an average rating of “Buy” and an average target price of $66.09.
WestRock (NYSE:WRK) traded up $0.56 on Tuesday, reaching $63.11. The company had a trading volume of 4,840,131 shares, compared to its average volume of 1,590,000. WestRock has a one year low of $49.23 and a one year high of $64.87. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57. The stock has a market cap of $16,070.00 and a PE ratio of 24.09.
In other news, EVP Jennifer Graham-Johnson sold 7,700 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $59.23, for a total value of $456,071.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $55.12, for a total value of $570,106.16. Following the completion of the sale, 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. Insiders sold 161,788 shares of company stock worth $9,629,984 in the last 90 days. Company insiders own 2.68% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Mckinley Capital Management LLC Delaware purchased a new position in shares of WestRock in the second quarter valued at approximately $100,000. Sun Life Financial INC lifted its position in shares of 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 acquiring an additional 1,828 shares in the last quarter. Invictus RG purchased a new position in shares of WestRock in the third quarter valued at approximately $108,000. Old Mutual Global Investors UK Ltd. purchased a new position in shares of WestRock in the third quarter valued at approximately $130,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of WestRock by 25.0% in the second 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.
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About WestRock
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.
