Westrock (NYSE:WRK) had its target price raised by equities researchers at Bank of America from $38.00 to $41.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Bank of America‘s price target would suggest a potential upside of 12.79% from the stock’s current price.
Other analysts also recently issued research reports about the stock. Citigroup increased their target price on shares of Westrock from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company reaffirmed a “buy” rating and issued a $44.00 price objective (up previously from $40.00) on shares of Westrock in a research report on Wednesday, September 9th. Deutsche Bank lowered their price objective on shares of Westrock from $42.00 to $34.00 and set a “hold” rating for the company in a research report on Tuesday, May 26th. Morgan Stanley started coverage on shares of Westrock in a research report on Monday, June 15th. They issued an “equal weight” rating and a $28.00 price objective for the company. Finally, DA Davidson reaffirmed a “buy” rating on shares of Westrock in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Westrock presently has a consensus rating of “Hold” and a consensus target price of $36.55.
WRK opened at $36.35 on Tuesday. The firm has a 50 day moving average price of $30.49 and a 200 day moving average price of $28.96. The company has a market cap of $9.44 billion, a PE ratio of 12.16 and a beta of 1.51. Westrock has a 1 year low of $21.50 and a 1 year high of $44.39. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.03 and a current ratio of 1.80.
Westrock (NYSE:WRK) last posted its earnings results on Tuesday, August 4th. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.32. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.27 billion. Westrock had a net margin of 4.37% and a return on equity of 7.24%. The company’s revenue was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. On average, sell-side analysts predict that Westrock will post 2.62 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Company LLC acquired a new stake in shares of Westrock during the first quarter worth approximately $44,000. Morgan Stanley grew its position in shares of Westrock by 2.4% during the first quarter. Morgan Stanley now owns 761,383 shares of the basic materials company’s stock worth $21,516,000 after buying an additional 17,738 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of Westrock during the first quarter worth approximately $924,000. First Allied Advisory Services Inc. lifted its stake in Westrock by 54.4% during the first quarter. First Allied Advisory Services Inc. now owns 40,811 shares of the basic materials company’s stock worth $1,153,000 after purchasing an additional 14,384 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Westrock by 45.6% during the first quarter. Janus Henderson Group PLC now owns 147,175 shares of the basic materials company’s stock worth $4,159,000 after purchasing an additional 46,103 shares during the last quarter. 80.83% of the stock is owned by institutional investors and hedge funds.
Westrock Company Profile
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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