Westlake Chemical (WLK) PT Lowered to $105.00
Westlake Chemical (NYSE:WLK) had its price target lowered by research analysts at JPMorgan Chase & Co. from $120.00 to $105.00 in a report issued on Wednesday. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.’s price target points to a potential upside of 10.78% from the company’s current price.
Several other brokerages have also recently weighed in on WLK. MED reissued a “buy” rating and issued a $130.00 price objective on shares of Westlake Chemical in a research note on Thursday, May 17th. Royal Bank of Canada cut shares of Westlake Chemical from an “outperform” rating to a “sector perform” rating in a research note on Monday, June 11th. ValuEngine raised shares of Westlake Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, May 12th. Cowen boosted their price objective on shares of Westlake Chemical from $122.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, May 11th. Finally, Nomura cut shares of Westlake Chemical from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $120.00 to $108.00 in a research note on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Westlake Chemical currently has an average rating of “Hold” and a consensus target price of $116.82.
NYSE WLK opened at $94.78 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.46. Westlake Chemical has a fifty-two week low of $73.68 and a fifty-two week high of $124.29. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 0.84 and a beta of 1.55.
A number of hedge funds have recently added to or reduced their stakes in WLK. Advisors Preferred LLC acquired a new position in Westlake Chemical in the first quarter valued at $101,000. LS Investment Advisors LLC acquired a new position in Westlake Chemical in the second quarter valued at $116,000. Flagship Harbor Advisors LLC acquired a new position in Westlake Chemical in the second quarter valued at $130,000. C M Bidwell & Associates Ltd. acquired a new position in Westlake Chemical in the first quarter valued at $142,000. Finally, Daiwa Securities Group Inc. acquired a new position in Westlake Chemical in the second quarter valued at $157,000. Institutional investors and hedge funds own 31.50% of the company’s stock.
Westlake Chemical Company Profile
Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products primarily in North America and Europe. It operates through two segments, Olefins and Vinyls. The Olefins segment offers polyethylene, styrene monomers, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen products.
Featured Story: Stock Symbols, CUSIP and Other Stock Identifiers
Receive News & Ratings for Westlake Chemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westlake Chemical and related companies with MarketBeat.com's FREE daily email newsletter.