Westrock Company (WRK) Given New $60.00 Price Target at Barclays PLC
Westrock Company (NYSE:WRK) had its target price hoisted by Barclays PLC from $58.00 to $60.00 in a research note issued to investors on Monday morning. They currently have an equal weight rating on the basic materials company’s stock.
Other equities research analysts have also issued research reports about the stock. Deutsche Bank AG reissued a buy rating and issued a $65.00 price target (up previously from $61.00) on shares of Westrock in a report on Monday, October 9th. Royal Bank Of Canada reissued a buy rating and issued a $65.00 price target on shares of Westrock in a report on Monday, September 25th. Jefferies Group LLC reissued a buy rating and issued a $68.00 price target on shares of Westrock in a report on Friday, July 14th. Zacks Investment Research raised shares of Westrock from a hold rating to a buy rating and set a $67.00 price target for the company in a report on Friday, July 14th. Finally, DA Davidson reissued a buy rating and issued a $74.00 price target on shares of Westrock in a report on Friday. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $65.09.
Shares of Westrock (NYSE:WRK) traded down $0.32 during midday trading on Monday, reaching $58.95. 1,179,268 shares of the company traded hands, compared to its average volume of 1,570,000. The stock has a market cap of $14,910.00 and a price-to-earnings ratio of 22.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.49. Westrock has a 12 month low of $43.79 and a 12 month high of $61.60.
Westrock (NYSE:WRK) last issued its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.81 by $0.06. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.13 billion. Westrock had a net margin of 4.77% and a return on equity of 6.73%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. research analysts predict that Westrock will post 3.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, November 9th. This is a boost from Westrock’s previous quarterly dividend of $0.40. Westrock’s payout ratio is 57.76%.
In other news, Director John A. Luke, Jr. sold 87,202 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $55.06, for a total transaction of $4,801,342.12. Following the transaction, the director now owns 497,557 shares of the company’s stock, valued at approximately $27,395,488.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John A. Luke, Jr. sold 10,343 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $56.26, for a total transaction of $581,897.18. Following the transaction, the director now directly owns 497,557 shares in the company, valued at approximately $27,992,556.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 453,722 shares of company stock worth $25,561,697. 2.68% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in WRK. Mckinley Capital Management LLC Delaware acquired a new position in shares of Westrock during the 2nd quarter valued at about $100,000. Sun Life Financial INC boosted its position in shares of Westrock by 26,114.3% during the 2nd quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after acquiring an additional 1,828 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Westrock during the 3rd quarter valued at about $130,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Westrock by 25.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 509 shares during the last quarter. Finally, FTB Advisors Inc. boosted its position in shares of Westrock by 186.2% during the 2nd quarter. FTB Advisors Inc. now owns 3,185 shares of the basic materials company’s stock valued at $180,000 after acquiring an additional 2,072 shares during the last quarter. 88.98% of the stock is currently 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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