Alembic Global Advisors Analysts Give Westlake Chemical (WLK) a $135.00 Price Target

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Alembic Global Advisors set a $135.00 target price on Westlake Chemical (NYSE:WLK) in a research report released on Tuesday. The firm currently has a buy rating on the specialty chemicals company’s stock.

A number of other equities research analysts have also recently issued reports on WLK. Citigroup decreased their price objective on shares of Westlake Chemical from $133.00 to $131.00 and set a buy rating for the company in a report on Wednesday, July 11th. Nomura lowered shares of Westlake Chemical from a buy rating to a neutral rating and cut their target price for the stock from $120.00 to $108.00 in a research report on Wednesday, July 11th. Zacks Investment Research lowered shares of Westlake Chemical from a buy rating to a hold rating in a research report on Wednesday, July 18th. MED reissued a buy rating and set a $140.00 target price on shares of Westlake Chemical in a research report on Thursday, August 2nd. Finally, BMO Capital Markets reissued a hold rating and set a $111.00 target price on shares of Westlake Chemical in a research report on Friday, August 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Westlake Chemical presently has an average rating of Hold and a consensus price target of $112.12.

Shares of NYSE:WLK opened at $75.90 on Tuesday. The firm has a market capitalization of $10.32 billion, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 0.71 and a beta of 1.59. Westlake Chemical has a 1 year low of $68.40 and a 1 year high of $124.29. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.31 and a quick ratio of 1.51.

Westlake Chemical (NYSE:WLK) last issued its quarterly earnings data on Tuesday, November 6th. The specialty chemicals company reported $2.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.24 by $0.11. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Westlake Chemical had a net margin of 19.36% and a return on equity of 19.75%. Westlake Chemical’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 earnings per share. As a group, equities analysts anticipate that Westlake Chemical will post 8.66 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its position in shares of Westlake Chemical by 1.4% during the second quarter. Russell Investments Group Ltd. now owns 36,591 shares of the specialty chemicals company’s stock valued at $3,907,000 after buying an additional 513 shares during the last quarter. Centaurus Financial Inc. raised its position in shares of Westlake Chemical by 8.4% during the second quarter. Centaurus Financial Inc. now owns 9,117 shares of the specialty chemicals company’s stock valued at $981,000 after buying an additional 709 shares during the last quarter. Creative Planning raised its position in shares of Westlake Chemical by 36.8% during the third quarter. Creative Planning now owns 2,739 shares of the specialty chemicals company’s stock valued at $228,000 after buying an additional 737 shares during the last quarter. Zacks Investment Management raised its position in shares of Westlake Chemical by 4.7% during the second quarter. Zacks Investment Management now owns 19,082 shares of the specialty chemicals company’s stock valued at $2,054,000 after buying an additional 856 shares during the last quarter. Finally, BancorpSouth Bank raised its position in shares of Westlake Chemical by 11.5% during the second quarter. BancorpSouth Bank now owns 8,387 shares of the specialty chemicals company’s stock valued at $903,000 after buying an additional 865 shares during the last quarter. 30.35% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Westlake Chemical (NYSE:WLK)

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