UBS Group Has Lowered Expectations for Westlake (NYSE:WLK) Stock Price

Westlake (NYSE:WLK) had its price target decreased by stock analysts at UBS Group from $160.00 to $144.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s target price points to a potential upside of 5.04% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada cut their target price on Westlake from $174.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. JPMorgan Chase & Co. increased their target price on Westlake from $123.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Barclays raised Westlake from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $162.00 to $180.00 in a research report on Monday, September 30th. Wells Fargo & Company decreased their price target on Westlake from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Mizuho initiated coverage on Westlake in a research note on Thursday, August 8th. They issued an “outperform” rating and a $170.00 price target for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $162.92.

Westlake Stock Performance

Shares of WLK stock traded up $4.54 during mid-day trading on Wednesday, reaching $137.09. 845,535 shares of the company’s stock traded hands, compared to its average volume of 439,452. The firm has a market capitalization of $17.63 billion, a PE ratio of 65.59, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.94 and a current ratio of 2.61. The firm has a 50 day moving average price of $140.85 and a two-hundred day moving average price of $146.37. Westlake has a 12 month low of $118.64 and a 12 month high of $162.64.

Westlake (NYSE:WLK) last released its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.41 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.80). The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.31 billion. Westlake had a return on equity of 7.84% and a net margin of 2.27%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 earnings per share. On average, research analysts forecast that Westlake will post 7.28 EPS for the current year.

Institutional Investors Weigh In On Westlake

Several large investors have recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new position in shares of Westlake in the first quarter worth about $43,000. Quest Partners LLC boosted its stake in Westlake by 8,400.0% in the 2nd quarter. Quest Partners LLC now owns 340 shares of the specialty chemicals company’s stock worth $49,000 after purchasing an additional 336 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Westlake in the 2nd quarter worth about $66,000. nVerses Capital LLC bought a new position in Westlake during the 3rd quarter valued at about $75,000. Finally, UniSuper Management Pty Ltd lifted its stake in shares of Westlake by 66.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the specialty chemicals company’s stock worth $76,000 after purchasing an additional 200 shares during the period. 28.40% of the stock is currently owned by institutional investors and hedge funds.

About Westlake

Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products.