Westrock Company (WRK) Receives Average Rating of “Buy” from Analysts

Shares of Westrock Company (NYSE:WRK) have earned a consensus recommendation of “Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $60.89.

WRK has been the subject of a number of analyst reports. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock Company from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $61.00 in a research note on Tuesday, April 18th. Jefferies Group LLC restated a “buy” rating and set a $65.00 price target on shares of Westrock Company in a research note on Tuesday, March 7th. Credit Suisse Group restated a “buy” rating and set a $66.00 price target on shares of Westrock Company in a research note on Thursday, April 27th. Royal Bank Of Canada upgraded shares of Westrock Company from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $54.00 to $59.00 in a research note on Wednesday, April 19th. Finally, Barclays PLC raised their price objective on shares of Westrock Company from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st.

In related news, Director John A. Luke, Jr. sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $53.83, for a total value of $4,037,250.00. Following the completion of the sale, the director now owns 495,435 shares of the company’s stock, valued at $26,669,266.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.68% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. GLG LLC raised its stake in shares of Westrock Company by 6.8% in the fourth quarter. GLG LLC now owns 5,932 shares of the basic materials company’s stock worth $301,000 after buying an additional 377 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Westrock Company by 130.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 172,123 shares of the basic materials company’s stock worth $8,739,000 after buying an additional 97,278 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Westrock Company by 122.9% in the fourth quarter. Two Sigma Investments LP now owns 461,311 shares of the basic materials company’s stock worth $23,421,000 after buying an additional 254,386 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of Westrock Company by 1,051.0% in the fourth quarter. Janus Capital Management LLC now owns 839,053 shares of the basic materials company’s stock worth $42,599,000 after buying an additional 766,153 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Westrock Company by 15.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 69,085 shares of the basic materials company’s stock worth $3,505,000 after buying an additional 9,113 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

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Shares of Westrock Company (NYSE:WRK) opened at 57.95 on Tuesday. Westrock Company has a one year low of $35.77 and a one year high of $58.62. The company has a 50-day moving average price of $54.75 and a 200 day moving average price of $53.05. The company has a market capitalization of $14.38 billion, a price-to-earnings ratio of 80.60 and a beta of 1.37.

Westrock Company (NYSE:WRK) last announced its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.07. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Westrock Company had a net margin of 1.29% and a return on equity of 6.35%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. On average, analysts forecast that Westrock Company will post $2.52 EPS for the current fiscal year.

Westrock Company Company Profile

WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.

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