Westrock Company (NYSE:WRK) Receives $61.89 Consensus Target Price from Brokerages

Westrock Company (NYSE:WRK) has been given an average recommendation of “Buy” by the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $62.67.

A number of research firms have recently commented on WRK. BidaskClub downgraded shares of Westrock from a “hold” rating to a “sell” rating in a report on Friday. Barclays PLC raised their price objective on shares of Westrock from $54.00 to $58.00 and gave the company an “equal weight” rating in a research report on Monday. Jefferies Group LLC restated a “buy” rating and issued a $69.00 price objective on shares of Westrock in a research report on Friday, August 4th. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, July 13th. Finally, BMO Capital Markets restated a “buy” rating and set a $62.00 target price on shares of Westrock in a report on Thursday, June 15th.

Westrock (WRK) traded up 0.69% on Monday, reaching $55.61. The company had a trading volume of 889,522 shares. The stock has a 50 day moving average price of $57.69 and a 200 day moving average price of $54.53. The stock has a market capitalization of $14.20 billion, a PE ratio of 33.74 and a beta of 1.37. Westrock has a 52-week low of $43.57 and a 52-week high of $60.36.

Westrock (NYSE:WRK) last issued its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm earned $0.71 EPS. The business’s revenue was up 2.8% on a year-over-year basis. Analysts expect that Westrock will post $2.62 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. Westrock’s dividend payout ratio (DPR) is currently 97.56%.

In other news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $59.43, for a total value of $614,684.49. Following the completion of the transaction, the director now owns 497,557 shares of the company’s stock, valued at $29,569,812.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 41,372 shares of company stock valued at $2,404,334 in the last three months. Company insiders own 2.68% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kentucky Retirement Systems bought a new position in Westrock during the fourth quarter worth approximately $925,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Westrock during the fourth quarter valued at about $413,000. Searle & CO. purchased a new position in Westrock during the fourth quarter valued at about $235,000. Macquarie Group Ltd. increased its position in Westrock by 93.1% in the fourth quarter. Macquarie Group Ltd. now owns 258,381 shares of the basic materials company’s stock valued at $13,118,000 after buying an additional 124,555 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in Westrock by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 215,896 shares of the basic materials company’s stock valued at $11,233,000 after buying an additional 6,040 shares in the last quarter. 89.22% of the stock is owned by hedge funds and other institutional investors.

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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.

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