WestRock (NYSE:WRK) had its target price lifted by Bank of America from $73.00 to $76.00 in a note issued to investors on Tuesday. The firm presently has a “buy” rating on the basic materials company’s stock. Bank of America’s price objective would suggest a potential upside of 10.69% from the stock’s current price.
A number of other research firms have also recently commented on WRK. Stephens set a $74.00 price objective on WestRock and gave the company a “hold” rating in a research report on Monday. Royal Bank of Canada reiterated a “buy” rating and set a $85.00 price objective on shares of WestRock in a research report on Tuesday. BMO Capital Markets reiterated a “buy” rating and set a $77.00 price objective on shares of WestRock in a research report on Thursday, January 25th. Citigroup upped their price objective on WestRock from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, DA Davidson reiterated a “buy” rating and set a $82.00 price objective on shares of WestRock in a research report on Tuesday. Five research 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 company’s stock. WestRock presently has a consensus rating of “Buy” and an average target price of $73.17.
Shares of WestRock (WRK) traded up $0.25 during trading hours on Tuesday, hitting $68.66. The stock had a trading volume of 2,198,105 shares, compared to its average volume of 1,949,651. The company has a market capitalization of $17,901.25, a P/E ratio of 24.76, a P/E/G 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. WestRock has a 1 year low of $49.23 and a 1 year high of $71.55.
In other WestRock news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $64.35, for a total value of $665,572.05. Following the completion of the sale, the director now owns 497,557 shares in the company, valued at $32,017,792.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James B. Porter sold 14,930 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was 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 owns 50,093 shares of the company’s stock, valued at approximately $3,506,510. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,346 shares of company stock valued at $8,367,664. Company insiders own 2.20% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of WRK. Ronna Sue Cohen boosted its stake in shares of WestRock by 0.3% in the second quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock worth $261,000 after acquiring an additional 12 shares during the period. Trust Department MB Financial Bank N A boosted its stake in shares of WestRock by 0.4% in the first quarter. Trust Department MB Financial Bank N A now owns 7,831 shares of the basic materials company’s stock worth $407,000 after acquiring an additional 31 shares during the period. Cleararc Capital Inc. boosted its stake in shares of WestRock by 0.7% in the first quarter. Cleararc Capital Inc. now owns 6,144 shares of the basic materials company’s stock worth $320,000 after acquiring an additional 40 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of WestRock by 0.4% in the second quarter. Glenmede Trust Co. NA now owns 12,825 shares of the basic materials company’s stock worth $497,000 after acquiring an additional 53 shares during the period. Finally, Norinchukin Bank The boosted its stake in shares of WestRock by 0.3% in the second quarter. Norinchukin Bank The now owns 20,926 shares of the basic materials company’s stock worth $1,186,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 87.69% 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.
