Brokerages Set Westrock Co (NYSE:WRK) Price Target at $43.70

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Westrock Co (NYSE:WRK) has been assigned an average rating of “Hold” from the eleven analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $42.56.

A number of analysts have weighed in on the company. Bank of America raised Westrock from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Monday, November 18th. BNP Paribas initiated coverage on Westrock in a report on Monday, December 2nd. They set an “outperform” rating and a $48.00 price target for the company. Exane BNP Paribas began coverage on shares of Westrock in a research report on Monday, December 2nd. They issued an “outperform” rating and a $48.00 price objective on the stock. ValuEngine cut shares of Westrock from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Finally, Zacks Investment Research downgraded shares of Westrock from a “hold” rating to a “sell” rating and set a $39.00 price objective for the company. in a research report on Monday, October 14th.

In related news, Director John A. Luke, Jr. sold 20,603 shares of Westrock stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $38.68, for a total value of $796,924.04. Also, Director John A. Luke, Jr. sold 188,659 shares of Westrock stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $40.67, for a total value of $7,672,761.53. Following the completion of the sale, the director now owns 689,418 shares in the company, valued at $28,038,630.06. The disclosure for this sale can be found here. Insiders have sold a total of 276,221 shares of company stock worth $11,175,448 in the last quarter. 2.00% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Kistler Tiffany Companies LLC acquired a new position in Westrock during the third quarter worth $25,000. Rockefeller Capital Management L.P. boosted its position in Westrock by 47.6% during the second 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 in the last quarter. Signaturefd LLC boosted its position in Westrock by 154.1% during the second quarter. Signaturefd LLC now owns 1,080 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 655 shares in the last quarter. Phocas Financial Corp. acquired a new stake in Westrock in the second quarter valued at $40,000. Finally, SRS Capital Advisors Inc. acquired a new stake in Westrock in the second quarter valued at $48,000. Hedge funds and other institutional investors own 80.79% of the company’s stock.

Shares of NYSE:WRK traded down $0.35 on Monday, reaching $40.89. The company’s stock had a trading volume of 2,040,933 shares, compared to its average volume of 2,654,174. Westrock has a 52-week low of $31.94 and a 52-week high of $44.41. The stock has a market capitalization of $10.42 billion, a P/E ratio of 10.27, a PEG ratio of 2.81 and a beta of 1.63. The stock’s 50-day moving average is $39.56 and its two-hundred day moving average is $36.63. 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 (NYSE:WRK) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.05. The firm had revenue of $4.65 billion for 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%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $1.29 earnings per share. Equities analysts forecast that Westrock will post 3.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were issued a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date was Monday, November 18th. This is a positive change from Westrock’s previous quarterly dividend of $0.38. Westrock’s payout ratio is currently 46.73%.

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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