WestRock (NYSE:WRK) PT Raised to $51.00

WestRock (NYSE:WRK) had its target price upped by investment analysts at Wells Fargo & Company from $46.00 to $51.00 in a report released on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price points to a potential downside of 0.31% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Truist Financial upped their target price on shares of WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. StockNews.com initiated coverage on shares of WestRock in a report on Thursday. They set a “hold” rating for the company. Finally, Seaport Res Ptn cut shares of WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.50.

WestRock Trading Up 0.1 %

Shares of WRK stock traded up $0.05 during mid-day trading on Friday, reaching $51.16. The stock had a trading volume of 2,937,138 shares, compared to its average volume of 2,137,784. The firm has a market capitalization of $13.21 billion, a PE ratio of -7.61, a price-to-earnings-growth ratio of 4.47 and a beta of 1.10. The stock’s 50-day moving average price is $47.58 and its two-hundred day moving average price is $42.63. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. WestRock has a 52-week low of $26.85 and a 52-week high of $51.79.

WestRock (NYSE:WRK) last announced its earnings results on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts expect that WestRock will post 1.93 earnings per share for the current fiscal year.

Insider Activity

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the completion of the transaction, the insider now directly owns 92,117 shares of the company’s stock, valued at $3,939,844.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WRK. NBC Securities Inc. bought a new stake in WestRock during the third quarter valued at about $27,000. International Assets Investment Management LLC grew its stake in WestRock by 268.7% during the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after buying an additional 575 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in WestRock in the fourth quarter valued at about $35,000. Clear Street Markets LLC raised its position in shares of WestRock by 198.5% in the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 665 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of WestRock by 59.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after buying an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

About WestRock

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.