BNP Paribas assumed coverage on shares of Westrock (NYSE:WRK) in a report issued on Monday, December 2nd, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $48.00 target price on the basic materials company’s stock.
WRK has been the subject of a number of other reports. ValuEngine downgraded Westrock from a hold rating to a sell rating in a report on Thursday, October 10th. KeyCorp reaffirmed a sell rating and issued a $34.00 price objective on shares of Westrock in a report on Thursday, November 7th. Zacks Investment Research cut shares of Westrock from a hold rating to a sell rating and set a $39.00 target price on the stock. in a report on Monday, October 14th. Bank of America raised shares of Westrock from a neutral rating to a buy rating and set a $48.00 price target for the company in a report on Monday, November 18th. Finally, Citigroup cut their target price on shares of Westrock from $39.00 to $38.00 and set a neutral rating on the stock in a report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $42.56.
Westrock stock traded down $0.33 during midday trading on Monday, hitting $42.64. 1,164,900 shares of the stock were exchanged, compared to its average volume of 2,428,670. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 0.83. Westrock has a 1 year low of $31.94 and a 1 year high of $43.36. The company has a 50 day moving average price of $40.65 and a two-hundred day moving average price of $37.17. The firm has a market cap of $11.08 billion, a P/E ratio of 10.71, a P/E/G ratio of 3.01 and a beta of 1.63.
Westrock (NYSE:WRK) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.84 billion. Westrock had a return on equity of 8.81% and a net margin of 4.72%. Westrock’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. As a group, analysts predict that Westrock will post 3.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were given a $0.465 dividend. This is a boost from Westrock’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, November 18th. This represents a $1.86 annualized dividend and a yield of 4.36%. Westrock’s dividend payout ratio is 46.73%.
In related news, insider James B. Porter sold 25,753 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $40.04, for a total value of $1,031,150.12. Following the completion of the transaction, the insider now owns 47,119 shares in the company, valued at approximately $1,886,644.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Luke, Jr. sold 41,206 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $40.64, for a total transaction of $1,674,611.84. Insiders sold 255,618 shares of company stock worth $10,378,523 in the last 90 days. 1.92% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its holdings in shares of Westrock by 1.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 26,357 shares of the basic materials company’s stock worth $983,000 after acquiring an additional 267 shares during the last quarter. Hartford Investment Management Co. lifted its position in shares of Westrock by 1.2% in the 2nd quarter. Hartford Investment Management Co. now owns 27,984 shares of the basic materials company’s stock valued at $1,021,000 after acquiring an additional 329 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of Westrock by 3.1% in the 3rd quarter. Cetera Advisors LLC now owns 11,029 shares of the basic materials company’s stock valued at $403,000 after acquiring an additional 334 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Westrock by 47.6% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,042 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 336 shares during the period. Finally, Landmark Bank boosted its stake in Westrock by 5.4% in the 2nd quarter. Landmark Bank now owns 7,249 shares of the basic materials company’s stock worth $264,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 80.78% of the company’s stock.
Westrock Company Profile
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.
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