Westrock Company (WRK) Receives $66.00 Average PT from Analysts

Westrock Company (NYSE:WRK) has received a consensus recommendation of “Buy” from the sixteen analysts that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $66.00.

WRK has been the subject of a number of analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $69.00 price objective on shares of Westrock in a research note on Friday, August 4th. Barclays PLC upped their price objective on shares of Westrock from $54.00 to $58.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. BidaskClub lowered shares of Westrock from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 target price on shares of Westrock in a report on Monday, September 25th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $65.00 target price (up previously from $61.00) on shares of Westrock in a report on Monday, October 9th.

Westrock (NYSE WRK) traded up $0.13 during mid-day trading on Friday, reaching $58.79. 850,956 shares of the company’s stock were exchanged, compared to its average volume of 1,449,407. The company has a quick ratio of 0.89, a current ratio of 1.49 and a debt-to-equity ratio of 0.57. Westrock has a 52 week low of $49.23 and a 52 week high of $61.60. The stock has a market capitalization of $14,970.00 and a price-to-earnings ratio of 22.31.

Westrock (NYSE:WRK) last posted its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. Westrock had a net margin of 4.77% and a return on equity of 6.73%. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up 12.4% on a year-over-year basis. analysts forecast that Westrock will post 3.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.72 dividend on an annualized basis and a yield of 2.93%. This is an increase from Westrock’s previous quarterly dividend of $0.40. Westrock’s dividend payout ratio is currently 62.09%.

In related news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $60.74, for a total value of $628,233.82. Following the transaction, the director now owns 497,557 shares in the company, valued at $30,221,612.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Wayne Chalovich sold 18,368 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $58.41, for a total value of $1,072,874.88. Following the completion of the transaction, the insider now owns 24,859 shares in the company, valued at approximately $1,452,014.19. The disclosure for this sale can be found here. Insiders sold 453,722 shares of company stock worth $25,616,721 in the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Norinchukin Bank The grew its holdings in Westrock by 0.3% during the second quarter. Norinchukin Bank The now owns 20,926 shares of the basic materials company’s stock valued at $1,186,000 after purchasing an additional 54 shares during the last quarter. First Midwest Bank Trust Division grew its holdings in Westrock by 0.5% during the second quarter. First Midwest Bank Trust Division now owns 10,845 shares of the basic materials company’s stock valued at $614,000 after purchasing an additional 55 shares during the last quarter. Wetherby Asset Management Inc. grew its holdings in Westrock by 1.4% during the second quarter. Wetherby Asset Management Inc. now owns 4,495 shares of the basic materials company’s stock valued at $255,000 after purchasing an additional 60 shares during the last quarter. ING Groep NV grew its holdings in Westrock by 0.9% during the second quarter. ING Groep NV now owns 10,112 shares of the basic materials company’s stock valued at $573,000 after purchasing an additional 93 shares during the last quarter. Finally, Keybank National Association OH grew its holdings in Westrock by 0.5% during the second quarter. Keybank National Association OH now owns 22,676 shares of the basic materials company’s stock valued at $1,285,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 86.92% of the company’s stock.

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Westrock 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.

Analyst Recommendations for Westrock (NYSE:WRK)

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