ValuEngine upgraded shares of Westlake Chemical Corporation (NYSE:WLK) from a hold rating to a buy rating in a research note published on Tuesday morning.

A number of other equities analysts have also weighed in on WLK. Zacks Investment Research lowered shares of Westlake Chemical Corporation from a buy rating to a hold rating in a research report on Wednesday, August 9th. Royal Bank Of Canada reissued a buy rating on shares of Westlake Chemical Corporation in a research report on Friday, August 4th. SunTrust Banks, Inc. reissued a buy rating and issued a $93.00 price objective on shares of Westlake Chemical Corporation in a research report on Thursday, September 28th. Johnson Rice began coverage on shares of Westlake Chemical Corporation in a research report on Monday, November 6th. They issued an accumulate rating and a $100.00 price objective for the company. Finally, Nomura raised shares of Westlake Chemical Corporation from a neutral rating to a buy rating and set a $98.00 price objective for the company in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $92.73.

Westlake Chemical Corporation (NYSE WLK) opened at $92.99 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.31 and a quick ratio of 1.50. The firm has a market cap of $12,058.63, a P/E ratio of 18.72, a PEG ratio of 2.30 and a beta of 1.67. Westlake Chemical Corporation has a 52-week low of $52.45 and a 52-week high of $96.14.

ILLEGAL ACTIVITY WARNING: “Westlake Chemical Corporation (WLK) Lifted to Buy at ValuEngine” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark laws. The original version of this story can be accessed at https://www.watchlistnews.com/westlake-chemical-corporation-wlk-lifted-to-buy-at-valuengine/1695826.html.

In related news, VP Mark Steven Bender sold 13,794 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $70.22, for a total transaction of $968,614.68. Following the completion of the transaction, the vice president now owns 44,449 shares of the company’s stock, valued at $3,121,208.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 71.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Westlake Chemical Corporation by 1.8% in the second quarter. Vanguard Group Inc. now owns 4,277,676 shares of the specialty chemicals company’s stock worth $283,225,000 after acquiring an additional 75,728 shares in the last quarter. FMR LLC increased its position in shares of Westlake Chemical Corporation by 15.0% in the second quarter. FMR LLC now owns 2,808,967 shares of the specialty chemicals company’s stock worth $185,981,000 after acquiring an additional 366,537 shares in the last quarter. BlackRock Inc. increased its position in shares of Westlake Chemical Corporation by 14,246.4% in the first quarter. BlackRock Inc. now owns 1,699,615 shares of the specialty chemicals company’s stock worth $112,260,000 after acquiring an additional 1,687,768 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Westlake Chemical Corporation by 14.8% in the second quarter. TIAA CREF Investment Management LLC now owns 1,570,608 shares of the specialty chemicals company’s stock worth $103,990,000 after acquiring an additional 202,453 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Westlake Chemical Corporation in the second quarter worth $90,442,000. 32.04% of the stock is owned by institutional investors.

About Westlake Chemical Corporation

Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Westlake Chemical Corporation (NYSE:WLK)

Receive News & Ratings for Westlake Chemical Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westlake Chemical Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.