RBC Capital analyst Arun Viswanathan maintained a Hold rating on Westlake Chemical (WLK) today and set a price target of $45.00. The company’s shares closed last Monday at $41.32.
According to TipRanks.com, Viswanathan is a 4-star analyst with an average return of 1.9% and a 50.5% success rate. Viswanathan covers the Consumer Goods sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Berry Global Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Westlake Chemical with a $57.69 average price target, a 42.7% upside from current levels. In a report issued on March 18, Scotiabank also initiated coverage with a Hold rating on the stock with a $48.00 price target.
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Westlake Chemical’s market cap is currently $5.23B and has a P/E ratio of 11.60. The company has a Price to Book ratio of 1.19.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WLK in relation to earlier this year. Last month, Albert Chao, the President & CEO of WLK bought 57,800 shares for a total of $593,028.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Westlake Chemical Corp. manufactures and markets petrochemicals, polymers and fabricated building products. It operates through the Olefins and Vinyls segments. The Olefins segment manufactures ethylene, polyethylene, styrene, and associated co-products at the manufacturing facility in Lake Charles and polyethylene at the Longview facility. The Vinyls segment manufactures and sells building products fabricated from polyvinyl chloride, including pipe, fittings, profiles, foundation, building products, fence and deck components, window, and door components, film, and sheet products. The company was founded by Ting Tsung Chao in 1986 and is headquartered in Houston, TX.