Westrock Company (WRK) Given Average Recommendation of “Buy” by Analysts
Shares of Westrock Company (NYSE:WRK) have received an average recommendation of “Buy” from the fourteen research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $63.75.
WRK has been the topic of a number of analyst reports. BMO Capital Markets reiterated a “buy” rating and set a $62.00 price objective on shares of Westrock in a research report on Thursday, June 15th. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 price objective on shares of Westrock in a research report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Westrock from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Tuesday, June 27th. KeyCorp reiterated a “hold” rating on shares of Westrock in a research report on Thursday, June 29th. Finally, 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.
Shares of Westrock (NYSE:WRK) remained flat at $56.47 during trading on Tuesday. The company’s stock had a trading volume of 1,314,365 shares. The company has a market capitalization of $14.17 billion, a PE ratio of 34.27 and a beta of 1.37. Westrock has a 52 week low of $43.79 and a 52 week high of $60.36. The firm’s 50-day moving average is $56.63 and its 200 day moving average is $54.86.
Westrock (NYSE:WRK) last posted its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the business posted $0.71 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. Analysts expect that Westrock will post $2.62 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Friday, August 11th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Wednesday, August 9th. Westrock’s dividend payout ratio (DPR) is presently 97.56%.
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In related news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $58.61, for a total value of $606,203.23. Following the completion of the sale, the director now directly owns 497,557 shares of the company’s stock, valued at $29,161,815.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Luke, Jr. sold 153,718 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $55.40, for a total transaction of $8,515,977.20. Following the completion of the sale, the director now directly owns 543,291 shares of the company’s stock, valued at $30,098,321.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 390,176 shares of company stock valued at $21,847,797. 2.68% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Ronna Sue Cohen lifted its stake in Westrock by 0.3% in the second quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock worth $261,000 after acquiring an additional 12 shares during the period. Cleararc Capital Inc. lifted its stake in Westrock by 0.7% in the first quarter. Cleararc Capital Inc. now owns 6,144 shares of the basic materials company’s stock worth $320,000 after acquiring an additional 40 shares during the period. Norinchukin Bank The lifted its stake in Westrock by 0.3% in the second quarter. Norinchukin Bank The now owns 20,926 shares of the basic materials company’s stock worth $1,186,000 after acquiring an additional 54 shares during the period. First Midwest Bank Trust Division lifted its stake in Westrock by 0.5% in the second quarter. First Midwest Bank Trust Division now owns 10,845 shares of the basic materials company’s stock worth $614,000 after acquiring an additional 55 shares during the period. Finally, Wetherby Asset Management Inc. lifted its stake in Westrock by 1.4% in the second quarter. Wetherby Asset Management Inc. now owns 4,495 shares of the basic materials company’s stock worth $255,000 after acquiring an additional 60 shares during the period. 88.63% of the stock is owned by institutional investors.
Westrock Company Profile
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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