WestRock (NYSE:WRK) Price Target Raised to $57.00 at Argus

WestRock (NYSE:WRK) had its price target boosted by Argus from $50.00 to $57.00 in a report released on Monday, Benzinga reports. Argus currently has a buy rating on the basic materials company’s stock.

A number of other research firms also recently issued reports on WRK. Royal Bank of Canada restated a sector perform rating and set a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. StockNews.com began coverage on shares of WestRock in a research report on Thursday, May 2nd. They issued a hold rating on the stock. Seaport Res Ptn cut WestRock from a buy rating to a neutral rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company raised their price target on WestRock from $46.00 to $51.00 and gave the company an equal weight rating in a report on Friday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $47.60.

WestRock Stock Performance

Shares of NYSE WRK opened at $51.40 on Monday. The firm’s 50-day moving average price is $47.88 and its 200-day moving average price is $42.92. WestRock has a 52-week low of $26.85 and a 52-week high of $51.79. The company has a market cap of $13.27 billion, a PE ratio of 43.19, a PEG ratio of 4.77 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.77.

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. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.75 billion. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. As a group, analysts anticipate that WestRock will post 1.93 EPS for the current year.

WestRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be issued a $0.3025 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.35%. WestRock’s dividend payout ratio (DPR) is presently 101.68%.

Insider Transactions at WestRock

In other news, insider Vicki L. Lostetter sold 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were 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 owns 92,117 shares in the company, valued at approximately $3,939,844.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Denise R. Singleton sold 9,700 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $51.46, for a total transaction of $499,162.00. Following the completion of the sale, the executive vice president now directly owns 74,946 shares of the company’s stock, valued at $3,856,721.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vicki L. Lostetter sold 3,500 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 20,165 shares of company stock worth $1,007,346. 0.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WRK. NBC Securities Inc. purchased a new stake in shares of WestRock in the 3rd quarter worth approximately $27,000. International Assets Investment Management LLC boosted its position 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 valued at $33,000 after acquiring an additional 575 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in WestRock during the fourth quarter valued at about $35,000. Parkside Financial Bank & Trust grew its stake in WestRock by 59.0% in 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, Newbridge Financial Services Group Inc. raised its holdings in WestRock by 82.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 910 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 410 shares in the last quarter. Institutional investors own 83.38% of the company’s stock.

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.