Westrock Company (NYSE:WRK) Stock Rating Lowered by BidaskClub
Westrock Company (NYSE:WRK) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
Other equities research analysts also recently issued research reports about the company. TheStreet raised Westrock from a “c+” rating to a “b-” rating in a report on Thursday, May 11th. Goldman Sachs Group, Inc. (The) raised Westrock from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $61.00 in a report on Tuesday, April 18th. Citigroup Inc. reissued a “buy” rating on shares of Westrock in a report on Friday, April 14th. Credit Suisse Group reissued a “buy” rating and issued a $66.00 price target on shares of Westrock in a report on Thursday, April 27th. Finally, Deutsche Bank AG raised their price target on Westrock from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $61.91.
Shares of Westrock (WRK) traded up 0.62% on Friday, reaching $55.57. 177,527 shares of the company’s stock were exchanged. The stock has a market cap of $14.19 billion, a price-to-earnings ratio of 33.72 and a beta of 1.37. Westrock has a one year low of $43.57 and a one year high of $60.36. The company’s 50 day moving average is $57.69 and its 200-day moving average is $54.53.
Westrock (NYSE:WRK) last posted its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.10. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts anticipate that Westrock will post $2.62 EPS for the current year.
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In related news, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $57.26, for a total transaction of $592,240.18. Following the completion of the sale, the director now owns 497,557 shares of the company’s stock, valued at $28,490,113.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 41,372 shares of company stock valued at $2,404,334 in the last ninety days. Corporate insiders own 2.68% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Ronna Sue Cohen increased its stake in Westrock by 0.3% in the second quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock worth $261,000 after buying an additional 12 shares during the period. Trust Department MB Financial Bank N A increased its stake in Westrock by 0.4% in the first quarter. Trust Department MB Financial Bank N A now owns 7,831 shares of the basic materials company’s stock worth $407,000 after buying an additional 31 shares during the period. Cleararc Capital Inc. increased its stake in Westrock by 0.7% in the first quarter. Cleararc Capital Inc. now owns 6,144 shares of the basic materials company’s stock worth $320,000 after buying an additional 40 shares during the period. Norinchukin Bank The increased its stake in Westrock by 0.3% in the second quarter. Norinchukin Bank The now owns 20,926 shares of the basic materials company’s stock worth $1,186,000 after buying an additional 54 shares during the period. Finally, First Midwest Bank Trust Division increased its stake in Westrock by 0.5% in the second quarter. First Midwest Bank Trust Division now owns 10,845 shares of the basic materials company’s stock worth $614,000 after buying an additional 55 shares during the period. 89.22% of the stock is owned by hedge funds and other institutional investors.
Westrock Company Profile
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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