Westlake Chemical Corporation (WLK) Stock Rating Upgraded by ValuEngine
Westlake Chemical Corporation (NYSE:WLK) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.
A number of other research firms also recently issued reports on WLK. Cowen and Company restated a “buy” rating and issued a $70.00 price target on shares of Westlake Chemical Corporation in a research report on Friday, July 14th. Nomura upgraded shares of Westlake Chemical Corporation from a “neutral” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Tuesday, September 26th. Zacks Investment Research downgraded shares of Westlake Chemical Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Westlake Chemical Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Finally, UBS AG lifted their price objective on shares of Westlake Chemical Corporation from $56.00 to $61.00 and gave the company a “sell” rating in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $89.18.
Westlake Chemical Corporation (NYSE WLK) opened at $93.95 on Tuesday. Westlake Chemical Corporation has a 52 week low of $48.92 and a 52 week high of $93.75. The company has a current ratio of 2.31, a quick ratio of 1.50 and a debt-to-equity ratio of 0.83. The company has a market cap of $11,828.82, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 2.26 and a beta of 1.67.
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In other Westlake Chemical Corporation news, VP Mark Steven Bender sold 13,794 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $70.22, for a total transaction of $968,614.68. Following the transaction, the vice president now owns 44,449 shares of the company’s stock, valued at approximately $3,121,208.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 71.70% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in WLK. BlackRock Inc. grew its stake in shares of Westlake Chemical Corporation by 14,246.4% in the 1st quarter. BlackRock Inc. now owns 1,699,615 shares of the specialty chemicals company’s stock worth $112,260,000 after purchasing an additional 1,687,768 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Westlake Chemical Corporation in the second quarter worth about $90,442,000. Bank of New York Mellon Corp boosted its holdings in shares of Westlake Chemical Corporation by 218.5% in the third quarter. Bank of New York Mellon Corp now owns 934,937 shares of the specialty chemicals company’s stock worth $77,683,000 after buying an additional 641,432 shares during the period. Balyasny Asset Management LLC boosted its holdings in shares of Westlake Chemical Corporation by 293.5% in the second quarter. Balyasny Asset Management LLC now owns 623,929 shares of the specialty chemicals company’s stock worth $41,310,000 after buying an additional 465,365 shares during the period. Finally, FMR LLC boosted its holdings in shares of Westlake Chemical Corporation by 15.0% in the second quarter. FMR LLC now owns 2,808,967 shares of the specialty chemicals company’s stock worth $185,981,000 after buying an additional 366,537 shares during the period. 32.04% of the stock is currently owned by institutional investors.
Westlake Chemical Corporation Company Profile
Westlake Chemical Corporation is a 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 consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.
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