Citigroup Trims WestRock (WRK) Target Price to $80.00

WestRock (NYSE:WRK) had its target price cut by Citigroup from $83.00 to $80.00 in a research note issued to investors on Thursday morning. They currently have a buy rating on the basic materials company’s stock.

A number of other equities analysts also recently weighed in on the company. ValuEngine downgraded WestRock from a buy rating to a hold rating in a research note on Wednesday, March 7th. Zacks Investment Research downgraded WestRock from a buy rating to a hold rating in a research note on Tuesday, March 6th. Barclays boosted their target price on WestRock from $60.00 to $64.00 and gave the stock an equal weight rating in a research note on Monday, February 12th. Bank of America boosted their target price on WestRock from $73.00 to $76.00 and gave the stock a buy rating in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada restated a buy rating and issued a $85.00 target price on shares of WestRock in a research note on Tuesday, January 30th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. WestRock has a consensus rating of Buy and an average target price of $73.83.

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Shares of NYSE WRK opened at $62.65 on Thursday. WestRock has a twelve month low of $49.23 and a twelve month high of $71.55. The company has a market capitalization of $16,442.95, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.26 and a beta of 1.37. The company has a current ratio of 1.28, a quick ratio of 0.74 and a debt-to-equity ratio of 0.47.

WestRock (NYSE:WRK) last announced its earnings results on Monday, January 29th. The basic materials company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. WestRock had a return on equity of 7.45% and a net margin of 11.51%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the previous year, the business earned $0.47 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. analysts forecast that WestRock will post 3.99 EPS for the current fiscal year.

In other WestRock news, CEO Steven C. Voorhees sold 49,267 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $65.00, for a total transaction of $3,202,355.00. Following the sale, the chief executive officer now owns 700,051 shares of the company’s stock, valued at approximately $45,503,315. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Luke, Jr. sold 7,236 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $67.06, for a total transaction of $485,246.16. Following the sale, the director now directly owns 504,679 shares in the company, valued at approximately $33,843,773.74. The disclosure for this sale can be found here. Insiders sold a total of 454,649 shares of company stock worth $29,964,777 in the last ninety days. 2.68% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of WRK. American Century Companies Inc. raised its holdings in WestRock by 32.6% during the 4th quarter. American Century Companies Inc. now owns 4,631,286 shares of the basic materials company’s stock valued at $292,744,000 after acquiring an additional 1,138,884 shares during the period. Point72 Asset Management L.P. bought a new stake in WestRock during the 3rd quarter valued at $51,740,000. Alps Advisors Inc. bought a new stake in WestRock during the 4th quarter valued at $47,018,000. Two Sigma Investments LP raised its holdings in WestRock by 280.4% during the 4th quarter. Two Sigma Investments LP now owns 806,081 shares of the basic materials company’s stock valued at $50,952,000 after acquiring an additional 594,196 shares during the period. Finally, Conning Inc. raised its holdings in WestRock by 9,098.7% during the 4th quarter. Conning Inc. now owns 445,954 shares of the basic materials company’s stock valued at $28,189,000 after acquiring an additional 441,106 shares during the period. 88.27% of the stock is currently owned by institutional investors and hedge funds.

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About WestRock

WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.

Analyst Recommendations for WestRock (NYSE:WRK)

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