Westrock Company (NYSE:WRK)‘s stock had its “buy” rating reaffirmed by research analysts at Deutsche Bank AG in a research note issued on Monday, October 9th. They currently have a $65.00 price objective on the basic materials company’s stock, up from their prior price objective of $61.00. Deutsche Bank AG’s price objective indicates a potential upside of 7.38% from the stock’s current price.
A number of other research analysts have also weighed in on the company. Zacks Investment Research raised Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Friday, July 14th. BidaskClub lowered Westrock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC reissued a “buy” rating and issued a $65.00 target price on shares of Westrock in a report on Thursday, June 22nd. KeyCorp reissued a “hold” rating on shares of Westrock in a report on Thursday, June 29th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $62.00 target price on shares of Westrock in a report on Thursday, June 15th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $64.33.
Westrock (NYSE WRK) opened at 60.53 on Monday. The firm’s 50-day moving average is $57.78 and its 200 day moving average is $56.04. Westrock has a one year low of $43.79 and a one year high of $60.54. The stock has a market cap of $15.18 billion, a P/E ratio of 36.73 and a beta of 1.35.
Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.10. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. Westrock’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts anticipate that Westrock will post $2.56 EPS for the current fiscal year.
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In related news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $58.83, for a total transaction of $608,478.69. Following the transaction, the director now directly owns 497,557 shares in the company, valued at $29,271,278.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Luke, Jr. sold 153,718 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $55.40, for a total value of $8,515,977.20. Following the transaction, the director now owns 543,291 shares in the company, valued at $30,098,321.40. The disclosure for this sale can be found here. Insiders have sold 453,722 shares of company stock worth $25,482,779 over the last quarter. 2.68% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of Westrock in the 2nd quarter worth about $100,000. FNY Partners Fund LP raised its holdings in shares of Westrock by 700.0% in the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 1,750 shares during the period. Sun Life Financial INC raised its holdings in shares of Westrock by 26,114.3% in the 2nd quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 1,828 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Westrock by 25.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 509 shares during the period. Finally, Global X Management Co. LLC raised its holdings in shares of Westrock by 36.9% in the 1st quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 867 shares during the period. Institutional investors own 88.57% of the company’s stock.
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.
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