Westlake Chemical Corp. (NYSE:WLK) was upgraded by stock analysts at Vertical Research from a “hold” rating to a “buy” rating in a research note issued on Monday.

A number of other equities research analysts have also weighed in on the stock. TheStreet raised shares of Westlake Chemical Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 23rd. Vetr upgraded shares of Westlake Chemical Corp. from a “hold” rating to a “strong-buy” rating and set a $59.00 price target on the stock in a research report on Tuesday, September 6th. Cowen and Company boosted their price target on shares of Westlake Chemical Corp. from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, September 1st. JPMorgan Chase & Co. boosted their price target on shares of Westlake Chemical Corp. from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 16th. Finally, Nomura set a $53.00 price target on shares of Westlake Chemical Corp. and gave the stock a “hold” rating in a research report on Monday, August 1st. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Westlake Chemical Corp. currently has a consensus rating of “Buy” and a consensus price target of $56.80.

Analyst Recommendations for Westlake Chemical Corp. (NYSE:WLK)

Westlake Chemical Corp. (NYSE:WLK) opened at 52.83 on Monday. The company has a market cap of $6.81 billion, a P/E ratio of 16.91 and a beta of 1.89. Westlake Chemical Corp. has a 52-week low of $39.48 and a 52-week high of $60.95. The company has a 50-day moving average of $52.74 and a 200-day moving average of $48.19.

Westlake Chemical Corp. (NYSE:WLK) last posted its earnings results on Tuesday, November 8th. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.39. Westlake Chemical Corp. had a return on equity of 13.56% and a net margin of 9.50%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm earned $1.39 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that Westlake Chemical Corp. will post $3.73 earnings per share for the current fiscal year.

In other news, VP George J. Mangieri sold 5,696 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $52.91, for a total value of $301,375.36. Following the completion of the sale, the vice president now owns 12,503 shares in the company, valued at approximately $661,533.73. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Albert Chao sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $52.95, for a total transaction of $1,059,000.00. Following the completion of the sale, the chief executive officer now owns 264,702 shares of the company’s stock, valued at approximately $14,015,970.90. The disclosure for this sale can be found here. Company insiders own 71.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank purchased a new stake in Westlake Chemical Corp. during the third quarter valued at about $107,000. Cubist Systematic Strategies LLC bought a new position in Westlake Chemical Corp. during the second quarter valued at $167,000. MSI Financial Services Inc raised its position in Westlake Chemical Corp. by 22.4% in the third quarter. MSI Financial Services Inc now owns 3,493 shares of the company’s stock valued at $187,000 after buying an additional 640 shares during the last quarter. Pacer Advisors Inc. raised its position in Westlake Chemical Corp. by 508.3% in the second quarter. Pacer Advisors Inc. now owns 4,568 shares of the company’s stock valued at $196,000 after buying an additional 3,817 shares during the last quarter. Finally, Profund Advisors LLC bought a new position in Westlake Chemical Corp. during the third quarter valued at $207,000. Hedge funds and other institutional investors own 26.18% of the company’s stock.

Westlake Chemical Corp. Company Profile

Westlake Chemical Corporation is a vertically integrated 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 diverse consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, residential and commercial construction, as well as other durable and non-durable goods.

5 Day Chart for NYSE:WLK

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