Westrock Company (NYSE:WRK)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group LLC in a note issued to investors on Friday. They currently have a $69.00 price objective on the basic materials company’s stock. Jefferies Group LLC’s price target suggests a potential upside of 20.36% from the company’s current price.
Other research analysts also recently issued reports about the stock. TheStreet upgraded shares of Westrock from a “c+” rating to a “b-” rating in a research report on Thursday, May 11th. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $61.00 in a research report on Tuesday, April 18th. Citigroup Inc. reiterated a “buy” rating on shares of Westrock in a research report on Friday, April 14th. BMO Capital Markets reiterated a “buy” rating and issued a $62.00 price target on shares of Westrock in a research report on Friday, April 7th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $66.00 price target on shares of Westrock in a research report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $61.55.
Westrock (NYSE WRK) opened at 57.33 on Friday. The company has a 50-day moving average of $57.82 and a 200-day moving average of $54.34. Westrock has a 1-year low of $40.63 and a 1-year high of $60.36. The stock has a market capitalization of $14.22 billion, a price-to-earnings ratio of 79.74 and a beta of 1.37.
Westrock (NYSE:WRK) last released its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.10. Westrock had a net margin of 1.29% and a return on equity of 6.35%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the firm earned $0.71 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts anticipate that Westrock will post $2.58 earnings per share for the current fiscal year.
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In other news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $58.61, for a total value of $606,203.23. Following the completion of the sale, the director now directly owns 497,557 shares of the company’s stock, valued at $29,161,815.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 31,029 shares of company stock valued at $1,812,094. Corporate insiders own 2.68% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Ronna Sue Cohen boosted its position in Westrock by 0.3% in the second quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock valued at $261,000 after buying an additional 12 shares during the last quarter. Trust Department MB Financial Bank N A boosted its position 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 valued at $407,000 after buying an additional 31 shares during the last quarter. Cleararc Capital Inc. boosted its position in Westrock by 0.7% in the first quarter. Cleararc Capital Inc. now owns 6,144 shares of the basic materials company’s stock valued at $320,000 after buying an additional 40 shares during the last quarter. First Midwest Bank Trust Division boosted its position 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 valued at $614,000 after buying an additional 55 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its position in Westrock by 1.4% in the second quarter. Wetherby Asset Management Inc. now owns 4,495 shares of the basic materials company’s stock valued at $255,000 after buying an additional 60 shares during the last quarter. 89.09% of the stock is owned by hedge funds and other institutional investors.
About Westrock
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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