Westrock Company (NYSE:WRK) had its price target boosted by investment analysts at Barclays PLC from $58.00 to $60.00 in a research note issued on Monday. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Barclays PLC’s price objective would indicate a potential upside of 1.88% from the stock’s current price.
A number of other research analysts also recently weighed in on the company. DA Davidson reaffirmed a “buy” rating and set a $74.00 price target on shares of Westrock in a research note on Friday. Stephens assumed coverage on Westrock in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 price target on the stock. KeyCorp reaffirmed a “hold” rating on shares of Westrock in a research note on Wednesday, October 11th. Deutsche Bank AG reaffirmed a “buy” rating and set a $65.00 price target (up from $61.00) on shares of Westrock in a research note on Monday, October 9th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 price target on shares of Westrock in a research note on Monday, September 25th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Westrock currently has a consensus rating of “Buy” and a consensus target price of $65.09.
Westrock (NYSE WRK) traded down $1.06 during mid-day trading on Monday, reaching $58.89. The company had a trading volume of 793,156 shares, compared to its average volume of 1,550,000. Westrock has a fifty-two week low of $43.79 and a fifty-two week high of $61.60. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57. The firm has a market cap of $14,930.00 and a P/E ratio of 22.88.
Westrock (NYSE:WRK) last posted its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. Westrock had a return on equity of 6.73% and a net margin of 4.77%. The business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the prior year, the business earned $0.71 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. equities analysts predict that Westrock will post 3.86 EPS for the current year.
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In other news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $60.74, for a total value of $628,233.82. Following the completion of the transaction, the director now directly owns 497,557 shares of the company’s stock, valued at $30,221,612.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Wayne Chalovich sold 18,368 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $58.41, for a total value of $1,072,874.88. Following the completion of the transaction, the insider now directly owns 24,859 shares of the company’s stock, valued at $1,452,014.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 443,379 shares of company stock valued at $24,949,184. 2.68% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Mckinley Capital Management LLC Delaware bought a new position in Westrock during the second quarter valued at $100,000. Sun Life Financial INC grew its holdings in Westrock by 26,114.3% during the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 1,828 shares during the period. Old Mutual Global Investors UK Ltd. bought a new position in Westrock during the third quarter valued at $130,000. Northwestern Mutual Wealth Management Co. grew its holdings in Westrock by 25.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 509 shares during the period. Finally, FTB Advisors Inc. grew its holdings in Westrock by 186.2% during the second quarter. FTB Advisors Inc. now owns 3,185 shares of the basic materials company’s stock valued at $180,000 after purchasing an additional 2,072 shares during the period. 88.98% of the stock is owned by institutional investors and hedge funds.
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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