Westrock’s (WRK) “Hold” Rating Reaffirmed at Barclays PLC
A number of other analysts have also commented on the company. Zacks Investment Research upgraded Westrock from a hold rating to a buy rating and set a $67.00 price target on the stock in a report on Friday, July 14th. BidaskClub lowered Westrock from a buy rating to a hold rating in a report on Monday, July 24th. Stephens started coverage on Westrock in a report on Tuesday, October 24th. They set an equal weight rating and a $61.00 price target on the stock. Deutsche Bank AG reiterated a buy rating and set a $65.00 price target (up from $61.00) on shares of Westrock in a report on Monday, October 9th. Finally, Jefferies Group LLC reiterated a buy rating and set a $68.00 price target on shares of Westrock in a report on Friday, July 14th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Westrock currently has an average rating of Buy and a consensus target price of $65.09.
Westrock (NYSE WRK) opened at $58.84 on Friday. Westrock has a fifty-two week low of $48.11 and a fifty-two week high of $61.60. The company has a quick ratio of 0.89, a current ratio of 1.49 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $14,688.64, a P/E ratio of 22.39, a PEG ratio of 1.35 and a beta of 1.37.
Westrock (NYSE:WRK) last posted its earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.06. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.13 billion. Westrock had a return on equity of 6.73% and a net margin of 4.77%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. sell-side analysts forecast that Westrock will post 3.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, November 10th will be paid a $0.43 dividend. The ex-dividend date is Thursday, November 9th. This is a positive change from Westrock’s previous quarterly dividend of $0.40. This represents a $1.72 annualized dividend and a dividend yield of 2.92%. Westrock’s payout ratio is presently 62.09%.
In other Westrock news, Director John A. Luke, Jr. sold 10,343 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $55.78, for a total value of $576,932.54. Following the sale, the director now directly owns 497,557 shares in the company, valued at $27,753,729.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey Wayne Chalovich sold 18,368 shares of the business’s stock in a transaction 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 sale, the insider now owns 24,859 shares in the company, valued at $1,452,014.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 453,722 shares of company stock worth $25,585,382. Corporate insiders own 2.68% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Mckinley Capital Management LLC Delaware purchased a new position in shares of Westrock in the second quarter valued at $100,000. Sun Life Financial INC grew its position in shares of Westrock by 26,114.3% in 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 in the last quarter. Invictus RG purchased a new position in shares of Westrock in the third quarter valued at $108,000. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Westrock in the third quarter valued at $130,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Westrock by 25.0% in 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 in the last quarter. Hedge funds and other institutional investors own 88.80% of the company’s stock.
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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