WestRock (NYSE:WRK) had its price objective lifted by equities researchers at Citigroup from $80.00 to $83.00 in a research note issued to investors on Tuesday. The firm presently has a “buy” rating on the basic materials company’s stock. Citigroup’s price objective suggests a potential upside of 20.89% from the company’s current price.
A number of other equities analysts have also commented on the company. Zacks Investment Research lowered WestRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Deutsche Bank set a $70.00 price target on WestRock and gave the company a “buy” rating in a research note on Thursday, December 14th. BMO Capital Markets increased their price target on WestRock to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, December 12th. Barclays increased their price target on WestRock from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, November 6th. Finally, Stephens initiated coverage on WestRock in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 price target for the company. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. WestRock currently has a consensus rating of “Buy” and an average target price of $73.17.
Shares of WestRock (NYSE WRK) traded up $0.25 during trading on Tuesday, reaching $68.66. The company had a trading volume of 2,198,105 shares, compared to its average volume of 1,949,651. WestRock has a 52 week low of $49.23 and a 52 week high of $71.55. The company has a market capitalization of $17,901.25, a price-to-earnings ratio of 24.76, a PEG ratio of 1.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.49.
In other news, insider Robert A. Feeser sold 29,972 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total value of $1,798,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James B. Porter sold 14,930 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $70.00, for a total value of $1,045,100.00. Following the completion of the sale, the insider now directly owns 50,093 shares of the company’s stock, valued at $3,506,510. The disclosure for this sale can be found here. Insiders sold a total of 135,346 shares of company stock valued at $8,367,664 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.
Large investors have recently bought and sold shares of the company. Braun Stacey Associates purchased a new stake in shares of WestRock in the third quarter worth approximately $14,293,000. Eqis Capital Management Inc. raised its holdings in shares of WestRock by 9.9% in the third quarter. Eqis Capital Management Inc. now owns 11,786 shares of the basic materials company’s stock worth $669,000 after buying an additional 1,058 shares during the period. Janus Capital Management purchased a new stake in shares of WestRock in the third quarter worth approximately $16,731,000. Hartford Investment Management Co. purchased a new stake in shares of WestRock in the fourth quarter worth approximately $2,861,000. Finally, US Bancorp DE raised its holdings in shares of WestRock by 45.1% in the fourth quarter. US Bancorp DE now owns 115,673 shares of the basic materials company’s stock worth $5,276,000 after buying an additional 35,948 shares during the period. 87.69% of the stock is owned by institutional investors and hedge funds.
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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.
