The stock of Westlake Chemical Corporation (NYSE:WLK) is a huge mover today! About 1.44M shares traded hands or 62.46% up from the average. Westlake Chemical Corporation (NYSE:WLK) has risen 4.19% since April 27, 2016 and is uptrending. It has underperformed by 1.03% the S&P500.
The move comes after 9 months positive chart setup for the $7.44B company. It was reported on Nov, 30 by Barchart.com. We have $63.28 PT which if reached, will make NYSE:WLK worth $595.20 million more.
Analysts await Westlake Chemical Corporation (NYSE:WLK) to report earnings on February, 28. They expect $0.78 EPS, down 7.14% or $0.06 from last year’s $0.84 per share. WLK’s profit will be $99.05M for 18.78 P/E if the $0.78 EPS becomes a reality. After $0.86 actual EPS reported by Westlake Chemical Corporation for the previous quarter, Wall Street now forecasts -9.30% negative EPS growth.
Westlake Chemical Corporation (NYSE:WLK) Ratings Coverage
Out of 9 analysts covering Westlake Chemical (NYSE:WLK), 6 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 67% are positive. Westlake Chemical has been the topic of 19 analyst reports since July 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Westlake Chemical Corporation (NYSE:WLK) on Wednesday, August 5 with “Outperform” rating. The firm has “Sector Perform” rating by RBC Capital Markets given on Thursday, November 5. Suntrust Robinson upgraded the shares of WLK in a report on Wednesday, June 15 to “Buy” rating. As per Monday, May 16, the company rating was maintained by JP Morgan. Deutsche Bank maintained it with “Hold” rating and $57 target price in Thursday, September 17 report. The company was maintained on Thursday, September 1 by Cowen & Co. The firm has “Neutral” rating given on Monday, August 10 by Goldman Sachs. Tudor Pickering initiated Westlake Chemical Corporation (NYSE:WLK) on Friday, October 14 with “Hold” rating. The firm earned “Buy” rating on Wednesday, June 15 by SunTrust. RBC Capital Markets upgraded Westlake Chemical Corporation (NYSE:WLK) rating on Tuesday, August 23. RBC Capital Markets has “Outperform” rating and $59 price target.
According to Zacks Investment Research, “Westlake Chemical Corporation is a vertically integrated international manufacturer and supplier of petrochemicals, polymers and fabricated products. The company’s range of products includes ethylene, polyethylene, styrene, vinyl intermediates, PVC, PVC Pipe, PVC windows, fence and decking components.”
Insitutional Activity: The institutional sentiment increased to 0.75 in 2016 Q2. Its up 0.10, from 0.65 in 2016Q1. The ratio increased, as 59 funds sold all Westlake Chemical Corporation shares owned while 89 reduced positions. 36 funds bought stakes while 60 increased positions. They now own 35.76 million shares or 12.15% less from 40.71 million shares in 2016Q1.
Cushing Asset Mngmt L P holds 0.3% or 196,141 shares in its portfolio. Natixis last reported 0.09% of its portfolio in the stock. Axa holds 0.01% of its portfolio in Westlake Chemical Corporation (NYSE:WLK) for 42,500 shares. Bancorpsouth holds 0.03% of its portfolio in Westlake Chemical Corporation (NYSE:WLK) for 5,635 shares. Perkins Investment Management Limited Com has 1.13 million shares for 0.73% of their US portfolio. Morgan Stanley holds 0.01% of its portfolio in Westlake Chemical Corporation (NYSE:WLK) for 465,519 shares. Picton Mahoney Asset Mgmt accumulated 2,100 shares or 0.01% of the stock. Moreover, Alps Advsr has 0% invested in Westlake Chemical Corporation (NYSE:WLK) for 8,869 shares. Moreover, Metropolitan Life Insur Co New York has 0% invested in Westlake Chemical Corporation (NYSE:WLK) for 1,121 shares. The United Kingdom-based Lmr Partners Limited Liability Partnership has invested 0.19% in Westlake Chemical Corporation (NYSE:WLK). The Minnesota-based Us Fincl Bank De has invested 0% in Westlake Chemical Corporation (NYSE:WLK). U S Glob Investors Inc last reported 21,100 shares in the company. Moreover, Royal Bancorp Of Canada has 0% invested in Westlake Chemical Corporation (NYSE:WLK) for 27,224 shares. Vident Invest Advisory Ltd Liability Corporation holds 40,261 shares or 0.24% of its portfolio. The Tennessee-based State Of Tennessee Treasury Department has invested 0.02% in Westlake Chemical Corporation (NYSE:WLK).
Insider Transactions: Since August 23, 2016, the stock had 0 insider purchases, and 8 selling transactions for $7.32 million net activity. $156,737 worth of shares were sold by Buesinger Robert F. on Thursday, November 10. Mangieri George J sold 30,714 shares worth $1.60M. Mattina Michael J. had sold 18,274 shares worth $982,776 on Tuesday, November 15. Chao James sold 20,000 shares worth $1.08 million. On Monday, November 14 the insider Chao Albert sold $1.06M.
More notable recent Westlake Chemical Corporation (NYSE:WLK) news were published by: Prnewswire.com which released: “Westlake Chemical to Acquire Axiall Corporation for $33.00 Per Share in All …” on June 10, 2016, also Bizjournals.com with their article: “Westlake Chemical sets closing date for Axiall acquisition” published on August 18, 2016, Prnewswire.com published: “Westlake Chemical Issues Open Letter to Axiall Corporation Shareholders” on March 07, 2016. More interesting news about Westlake Chemical Corporation (NYSE:WLK) were released by: Businesswire.com and their article: “Westlake Chemical Corporation Announces Second Quarter 2016 Earnings” published on July 28, 2016 as well as Businesswire.com‘s news article titled: “Westlake Chemical Corporation Announces Quarterly Dividend” with publication date: November 21, 2016.
WLK Company Profile
Westlake Chemical Corporation, incorporated on September 3, 1991, is a vertically integrated global maker and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various diverse consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, residential and commercial construction, as well as other durable and non-durable goods. The Firm operates in two divisions: Olefins and Vinyls. The Firm is also an integrated producer of vinyls with substantial downstream integration into polyvinyl chloride (PVC) building products.
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