StockNews.com Downgrades Westlake (NYSE:WLK) to Sell

Westlake (NYSE:WLK – Get Rating) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Several other analysts also recently commented on WLK. JPMorgan Chase & Co. upped their price target on shares of Westlake from $109.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Westlake from $105.00 to $120.00 in a research note on Wednesday, February 22nd. The Goldman Sachs Group raised their price target on shares of Westlake from $100.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, December 15th. Wells Fargo & Company raised their price target on shares of Westlake from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. Finally, KeyCorp raised their price target on shares of Westlake from $95.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday, February 23rd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Westlake has an average rating of “Hold” and a consensus price target of $119.64.

Westlake Stock Performance

WLK opened at $107.15 on Wednesday. The company has a current ratio of 2.60, a quick ratio of 1.79 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $117.58 and its 200 day moving average price is $105.23. Westlake has a twelve month low of $81.29 and a twelve month high of $141.19. The firm has a market capitalization of $13.65 billion, a PE ratio of 6.19 and a beta of 1.24.

Westlake (NYSE:WLK – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The specialty chemicals company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.45). Westlake had a net margin of 14.23% and a return on equity of 22.54%. The company had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.41 billion. During the same period last year, the firm posted $4.98 earnings per share. Westlake’s revenue was down 5.9% on a year-over-year basis. As a group, sell-side analysts expect that Westlake will post 10.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Raymond James & Associates lifted its stake in shares of Westlake by 3.1% during the first quarter. Raymond James & Associates now owns 16,608 shares of the specialty chemicals company’s stock valued at $2,049,000 after acquiring an additional 503 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Westlake by 4.3% during the first quarter. Bank of New York Mellon Corp now owns 243,246 shares of the specialty chemicals company’s stock worth $30,017,000 after buying an additional 10,077 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Westlake by 23.7% during the first quarter. American Century Companies Inc. now owns 8,102 shares of the specialty chemicals company’s stock worth $1,000,000 after buying an additional 1,553 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Westlake by 236.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,313 shares of the specialty chemicals company’s stock worth $1,149,000 after buying an additional 6,549 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of Westlake during the first quarter worth about $118,000. 26.79% of the stock is currently owned by institutional investors and hedge funds.

Westlake Company Profile

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Westlake Corp. Is a global diversified industrial company, which engages in the manufacturing and supplying of essential products. It operates through the Performance and Essential Materials, and Housing and Infrastructure Products segments. The Performance and Essential Materials segment includes Westlake North American Vinyls, Westlake North American Chlor-alkali and Derivatives, Westlake European and Asian Chlorovinyls, Westlake Olefins, Westlake Polyethylene, and Westlake Epoxy.