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

StockNews.com began coverage on shares of WestRock (NYSE:WRK) in a report released on Wednesday. The brokerage issued a hold rating on the basic materials company’s stock.

Other equities analysts also recently issued research reports about the company. Seaport Res Ptn downgraded WestRock from a buy rating to a neutral rating in a research report on Monday, January 29th. Royal Bank of Canada reiterated a sector perform rating and issued a $42.00 price objective on shares of WestRock in a research report on Friday, February 2nd. Wells Fargo & Company reiterated an equal weight rating and issued a $45.00 price objective (up previously from $42.00) on shares of WestRock in a research report on Thursday, January 11th. Finally, Truist Financial lifted their price objective on WestRock from $40.00 to $48.00 and gave the company a hold rating in a research report on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average target price of $43.00.

WestRock Price Performance

Shares of NYSE:WRK opened at $47.25 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $12.20 billion, a PE ratio of -7.03, a PEG ratio of 4.37 and a beta of 1.10. WestRock has a 1-year low of $26.85 and a 1-year high of $49.67. The business’s 50 day moving average is $47.18 and its 200-day moving average is $42.30.

WestRock (NYSE:WRK) last posted its earnings results on Thursday, February 1st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.15). The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.79 billion. WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. WestRock’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 EPS. Sell-side analysts predict that WestRock will post 1.93 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On WestRock

Institutional investors have recently made changes to their positions in the stock. 626 Financial LLC lifted its holdings in shares of WestRock by 1.4% in the fourth quarter. 626 Financial LLC now owns 18,972 shares of the basic materials company’s stock valued at $788,000 after purchasing an additional 265 shares in the last quarter. Van ECK Associates Corp boosted its position in WestRock by 2.4% during the third quarter. Van ECK Associates Corp now owns 12,143 shares of the basic materials company’s stock valued at $435,000 after purchasing an additional 289 shares during the last quarter. Czech National Bank boosted its position in WestRock by 0.7% during the first quarter. Czech National Bank now owns 45,213 shares of the basic materials company’s stock valued at $2,236,000 after purchasing an additional 306 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in WestRock by 59.0% during the fourth 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 last quarter. Finally, Wahed Invest LLC boosted its position in WestRock by 9.0% during the third quarter. Wahed Invest LLC now owns 3,973 shares of the basic materials company’s stock valued at $142,000 after purchasing an additional 327 shares during the last quarter. 83.38% of the stock is owned by institutional investors and hedge funds.

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.