StockNews.com Initiates Coverage on WestRock (NYSE:WRK)

Equities research analysts at StockNews.com initiated coverage on shares of WestRock (NYSE:WRK) in a research note issued on Thursday. The brokerage set a “hold” rating on the basic materials company’s stock.

A number of other brokerages have also issued reports on WRK. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $42.00 target price on shares of WestRock in a research report on Friday, February 2nd. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $45.00 target price (up from $42.00) on shares of WestRock in a research report on Thursday, January 11th. Seaport Res Ptn downgraded shares of WestRock from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, Truist Financial upped their price target on shares of WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a report on Thursday, January 4th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, WestRock currently has an average rating of “Hold” and an average price target of $44.50.

WestRock Stock Up 0.1 %

NYSE:WRK traded up $0.05 during trading hours on Thursday, hitting $51.16. The stock had a trading volume of 2,966,287 shares, compared to its average volume of 1,905,955. The company has a market cap of $13.21 billion, a PE ratio of 42.99, a price-to-earnings-growth ratio of 4.77 and a beta of 1.10. The business has a 50 day simple moving average of $47.73 and a two-hundred day simple moving average of $42.73. WestRock has a 1-year low of $26.85 and a 1-year high of $51.79. The company has a current ratio of 1.34, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77.

WestRock (NYSE:WRK) last released its quarterly 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 net margin of 1.57% and a return on equity of 5.85%. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same period last year, the business earned $0.77 EPS. The business’s revenue was down 10.4% on a year-over-year basis. Analysts predict that WestRock will post 1.93 EPS for the current year.

Insider Activity

In related news, insider Vicki L. Lostetter sold 3,500 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.77, for a total transaction of $149,695.00. Following the transaction, the insider now directly owns 92,117 shares in the company, valued at $3,939,844.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. NBC Securities Inc. acquired a new position in WestRock during the 3rd quarter valued at approximately $27,000. International Assets Investment Management LLC grew its position in shares of WestRock by 268.7% during the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 575 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of WestRock during the fourth quarter worth about $35,000. Clear Street Markets LLC lifted its position in 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 boosted its stake in WestRock by 59.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 320 shares during the period. 83.38% of the stock is currently owned by institutional investors.

WestRock Company Profile

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.