Royal Bank Of Canada restated their outperform rating on shares of Westlake Chemical Corporation (NYSE:WLK) in a research report released on Thursday morning, Marketbeat reports. The firm currently has a $114.00 target price on the specialty chemicals company’s stock, up from their previous target price of $103.00.
WLK has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Westlake Chemical Corporation from a hold rating to a buy rating and set a $95.00 price objective on the stock in a research note on Friday, October 13th. Wells Fargo & Company reiterated a positive rating and issued a $94.00 price objective (up previously from $77.00) on shares of Westlake Chemical Corporation in a research note on Wednesday, September 27th. SunTrust Banks, Inc. reiterated a buy rating and issued a $93.00 price objective on shares of Westlake Chemical Corporation in a research note on Thursday, September 28th. Johnson Rice began coverage on shares of Westlake Chemical Corporation in a report on Monday, November 6th. They set an accumulate rating and a $100.00 price target on the stock. Finally, ValuEngine raised shares of Westlake Chemical Corporation from a hold rating to a buy rating in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $92.73.
Shares of Westlake Chemical Corporation (NYSE:WLK) opened at $92.99 on Thursday. The firm has a market cap of $12,000.00, a price-to-earnings ratio of 18.64, a PEG ratio of 2.29 and a beta of 1.67. Westlake Chemical Corporation has a 52 week low of $52.45 and a 52 week high of $96.14. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.74.
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In other news, VP Mark Steven Bender sold 13,794 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $70.22, for a total value of $968,614.68. Following the transaction, the vice president now directly owns 44,449 shares of the company’s stock, valued at $3,121,208.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 72.50% of the company’s stock.
Large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in shares of Westlake Chemical Corporation by 162.8% in the second quarter. Advisors Asset Management Inc. now owns 2,276 shares of the specialty chemicals company’s stock worth $151,000 after buying an additional 1,410 shares in the last quarter. Verity Asset Management Inc. purchased a new position in shares of Westlake Chemical Corporation in the second quarter worth about $204,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Westlake Chemical Corporation in the third quarter worth about $204,000. OppenheimerFunds Inc. purchased a new position in shares of Westlake Chemical Corporation in the first quarter worth about $205,000. Finally, HL Financial Services LLC purchased a new position in shares of Westlake Chemical Corporation in the third quarter worth about $210,000. 32.01% of the stock is currently owned by hedge funds and other institutional investors.
Westlake Chemical Corporation Company Profile
Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.
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