WestRock (NYSE:WRK) has been assigned a $72.00 price objective by equities research analysts at Stephens in a report issued on Wednesday. The firm currently has a “hold” rating on the basic materials company’s stock. Stephens’ target price suggests a potential upside of 6.81% from the company’s previous close.
Several other research firms also recently commented on WRK. BMO Capital Markets upped their price objective on shares of WestRock to $68.00 and gave the company an “outperform” rating in a report on Tuesday, December 12th. Deutsche Bank set a $70.00 price objective on shares of WestRock and gave the company a “buy” rating in a report on Thursday, December 14th. Zacks Investment Research downgraded shares of WestRock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 7th. KeyCorp reaffirmed a “hold” rating on shares of WestRock in a report on Wednesday, October 11th. Finally, Barclays upped their price objective on shares of WestRock from $58.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, November 6th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. WestRock has an average rating of “Buy” and a consensus price target of $67.09.
WestRock (NYSE WRK) opened at $67.41 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.49 and a debt-to-equity ratio of 0.57. The firm has a market cap of $17,170.00 and a PE ratio of 24.34. WestRock has a fifty-two week low of $49.23 and a fifty-two week high of $68.29.
WestRock (NYSE:WRK) last issued its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.06. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.13 billion. WestRock had a net margin of 4.77% and a return on equity of 6.73%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. analysts predict that WestRock will post 3.77 earnings per share for the current fiscal year.
In other news, EVP Jennifer Graham-Johnson sold 7,700 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $59.23, for a total value of $456,071.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert A. Feeser sold 29,972 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total transaction of $1,798,320.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 151,445 shares of company stock worth $9,187,097. Insiders own 2.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware purchased a new stake in shares of WestRock in the second quarter worth about $100,000. Sun Life Financial INC increased its position in shares of WestRock by 26,114.3% in the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 1,828 shares during the last quarter. Invictus RG bought a new position in shares of WestRock in the third quarter worth approximately $108,000. Old Mutual Global Investors UK Ltd. bought a new position in shares of WestRock in the third quarter worth approximately $130,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of WestRock by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 509 shares during the last quarter. 87.70% of the stock is currently owned by hedge funds and other institutional investors.
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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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