A number of other research analysts also recently issued reports on WRK. Citigroup Inc. boosted their target price on shares of WestRock from $43.30 to $46.00 and gave the company a buy rating in a research report on Monday, June 13th. Zacks Investment Research downgraded shares of WestRock from a hold rating to a strong sell rating in a research report on Monday, July 4th. Credit Suisse Group AG set a $50.00 price objective on shares of WestRock and gave the stock a buy rating in a research report on Friday, August 5th. Jefferies Group upped their price objective on shares of WestRock from $50.00 to $53.00 and gave the stock a buy rating in a research report on Friday, August 5th. Finally, Bank of America Corp. reiterated a hold rating and issued a $45.00 price objective on shares of WestRock in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. WestRock presently has an average rating of Hold and an average target price of $53.04.
WestRock (NYSE:WRK) opened at 47.60 on Friday. The company’s 50-day moving average price is $46.73 and its 200-day moving average price is $41.60. WestRock has a one year low of $29.73 and a one year high of $57.85. The stock’s market cap is $11.84 billion.
WestRock (NYSE:WRK) last posted its earnings results on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The company earned $3.60 million during the quarter, compared to the consensus estimate of $3.70 billion. WestRock had a negative net margin of 1.27% and a positive return on equity of 6.71%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 earnings per share. Analysts forecast that WestRock will post $3.96 EPS for the current fiscal year.
In related news, Director John A. Luke, Jr. sold 188,103 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $46.62, for a total transaction of $8,769,361.86. Following the completion of the sale, the director now owns 837,343 shares of the company’s stock, valued at approximately $39,036,930.66. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.41% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Mizuho Asset Management Co. Ltd. acquired a new stake in shares of WestRock during the second quarter valued at about $135,000. Botty Investors LLC purchased a new position in WestRock during the second quarter valued at $137,000. Societe Generale purchased a new position in WestRock during the second quarter valued at $201,000. Advisor Partners LLC purchased a new position in WestRock during the first quarter valued at $203,000. Finally, IFP Advisors Inc raised its position in WestRock by 6.2% in the first quarter. IFP Advisors Inc now owns 5,660 shares of the company’s stock valued at $221,000 after buying an additional 328 shares during the last quarter. 90.32% of the stock is owned by institutional investors.
WestRock Company Profile
Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.
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