Barclays Boosts WestRock (WRK) Price Target to $64.00

WestRock (NYSE:WRK) had its target price raised by investment analysts at Barclays from $60.00 to $64.00 in a note issued to investors on Monday. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Barclays’ price objective indicates a potential upside of 0.61% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. BMO Capital Markets restated a “buy” rating and issued a $77.00 price objective on shares of WestRock in a report on Thursday, January 25th. Bank of America increased their price objective on shares of WestRock from $73.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Citigroup increased their target price on shares of WestRock from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Royal Bank of Canada reiterated a “buy” rating and issued a $85.00 target price on shares of WestRock in a report on Tuesday, January 30th. Finally, Deutsche Bank set a $78.00 target price on shares of WestRock and gave the stock a “buy” rating in a report on Tuesday, January 30th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $74.25.

Shares of WestRock (WRK) traded up $1.28 during midday trading on Monday, reaching $63.61. 856,848 shares of the company traded hands, compared to its average volume of 2,194,127. WestRock has a fifty-two week low of $49.23 and a fifty-two week high of $71.55. The firm has a market capitalization of $15,902.08, a price-to-earnings ratio of 9.24, a P/E/G ratio of 1.23 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 0.74.

WestRock (NYSE:WRK) last announced its quarterly earnings data on Monday, January 29th. The basic materials company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.12. WestRock had a net margin of 11.51% and a return on equity of 7.45%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the prior year, the business posted $0.47 earnings per share. WestRock’s revenue was up 13.0% compared to the same quarter last year. equities research analysts anticipate that WestRock will post 3.95 earnings per share for the current fiscal year.

In other news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $58.58, for a total transaction of $605,892.94. Following the completion of the sale, the director now owns 497,557 shares of the company’s stock, valued at $29,146,889.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Luke, Jr. sold 124,621 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $65.34, for a total transaction of $8,142,736.14. Following the sale, the director now directly owns 547,443 shares of the company’s stock, valued at approximately $35,769,925.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 239,281 shares of company stock worth $15,292,305. Company insiders own 2.20% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Invictus RG bought a new stake in shares of WestRock during the third quarter worth $108,000. Old Mutual Global Investors UK Ltd. bought a new stake in shares of WestRock during the third quarter worth $130,000. Tower Research Capital LLC TRC increased its position in shares of WestRock by 1,225.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,107 shares of the basic materials company’s stock worth $133,000 after acquiring an additional 1,948 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of WestRock during the third quarter worth $147,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of WestRock by 3,666.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,013 shares of the basic materials company’s stock worth $190,000 after acquiring an additional 2,933 shares in the last quarter. 87.74% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for WestRock (NYSE:WRK)

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