Westrock (NYSE:WRK) Now Covered by BNP Paribas

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Equities researchers at BNP Paribas began coverage on shares of Westrock (NYSE:WRK) in a research report issued on Monday, BenzingaRatingsTable reports. The firm set an “outperform” rating and a $48.00 price target on the basic materials company’s stock. BNP Paribas’ target price points to a potential upside of 21.52% from the company’s previous close.

Other research analysts have also issued research reports about the company. KeyCorp reissued a “sell” rating and set a $34.00 price objective on shares of Westrock in a report on Thursday, November 7th. ValuEngine downgraded Westrock from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Zacks Investment Research lowered Westrock from a “hold” rating to a “sell” rating and set a $39.00 target price for the company. in a report on Monday, October 14th. Citigroup decreased their target price on Westrock from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Finally, Bank of America upgraded Westrock from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.70.

Shares of NYSE:WRK opened at $39.50 on Monday. The stock has a market capitalization of $10.20 billion, a PE ratio of 9.92, a P/E/G ratio of 2.84 and a beta of 1.63. Westrock has a 1 year low of $31.94 and a 1 year high of $47.18. The firm has a fifty day moving average price of $38.80 and a 200 day moving average price of $36.39. The company has a current ratio of 1.45, a quick ratio of 0.83 and a debt-to-equity ratio of 0.81.

Westrock (NYSE:WRK) last posted its earnings results on Thursday, November 7th. The basic materials company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.05. Westrock had a return on equity of 8.81% and a net margin of 4.72%. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same period last year, the company earned $1.29 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts forecast that Westrock will post 3.32 earnings per share for the current fiscal year.

In other Westrock news, Director John A. Luke, Jr. sold 41,206 shares of Westrock stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $40.64, for a total value of $1,674,611.84. Also, Director John A. Luke, Jr. sold 20,603 shares of Westrock stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $38.68, for a total value of $796,924.04. Insiders have sold a total of 353,483 shares of company stock valued at $14,058,867 in the last three months. 2.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of WRK. Amundi Pioneer Asset Management Inc. raised its stake in Westrock by 40.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 311,236 shares of the basic materials company’s stock valued at $11,936,000 after purchasing an additional 90,397 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Westrock by 12.4% in the second quarter. Commonwealth Equity Services LLC now owns 19,901 shares of the basic materials company’s stock valued at $725,000 after buying an additional 2,192 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Westrock by 225.6% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 28,972 shares of the basic materials company’s stock valued at $1,057,000 after buying an additional 20,074 shares during the period. BB&T Corp grew its position in Westrock by 174.0% during the second quarter. BB&T Corp now owns 83,195 shares of the basic materials company’s stock worth $3,034,000 after buying an additional 52,827 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Westrock by 7.9% during the second quarter. Arizona State Retirement System now owns 107,232 shares of the basic materials company’s stock worth $3,911,000 after buying an additional 7,843 shares in the last quarter. 80.78% of the stock is owned by institutional investors.

About Westrock

WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.

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Analyst Recommendations for Westrock (NYSE:WRK)

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