StockNews.com Initiates Coverage on WestRock (NYSE:WRK)

Investment analysts at StockNews.com started coverage on shares of WestRock (NYSE:WRK) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the basic materials company’s stock.

Other equities research analysts have also issued reports about the stock. Argus upped their price target on shares of WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday, May 6th. Wells Fargo & Company raised their price objective on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Finally, Truist Financial boosted their target price on shares of WestRock from $51.00 to $57.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, WestRock presently has an average rating of “Hold” and a consensus price target of $51.75.

WestRock Trading Up 3.5 %

NYSE WRK opened at $51.51 on Wednesday. The company has a market capitalization of $13.24 billion, a price-to-earnings ratio of 43.29, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.85 and a current ratio of 1.34. WestRock has a one year low of $27.86 and a one year high of $54.83. The company’s 50-day simple moving average is $51.56 and its two-hundred day simple moving average is $47.80.

WestRock (NYSE:WRK) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.75 billion. WestRock had a return on equity of 5.85% and a net margin of 1.57%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Equities analysts forecast that WestRock will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at WestRock

In related news, EVP Denise R. Singleton sold 9,700 shares of WestRock stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $51.46, for a total transaction of $499,162.00. Following the transaction, the executive vice president now owns 74,946 shares in the company, valued at $3,856,721.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider John L. O’neal sold 6,965 shares of WestRock stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.47, for a total transaction of $358,488.55. Following the sale, the insider now owns 60,491 shares of the company’s stock, valued at approximately $3,113,471.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Denise R. Singleton sold 9,700 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.46, for a total value of $499,162.00. Following the completion of the transaction, the executive vice president now owns 74,946 shares in the company, valued at $3,856,721.16. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WRK. HB Wealth Management LLC lifted its stake in WestRock by 50.5% during the fourth quarter. HB Wealth Management LLC now owns 12,204 shares of the basic materials company’s stock worth $507,000 after purchasing an additional 4,095 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of WestRock in the 4th quarter valued at $60,000. Fifth Third Bancorp lifted its stake in WestRock by 15.2% during the 4th quarter. Fifth Third Bancorp now owns 10,864 shares of the basic materials company’s stock worth $451,000 after acquiring an additional 1,431 shares in the last quarter. Oak Thistle LLC purchased a new position in WestRock during the 4th quarter valued at about $836,000. Finally, Arizona State Retirement System boosted its holdings in WestRock by 0.8% during the 4th quarter. Arizona State Retirement System now owns 70,470 shares of the basic materials company’s stock valued at $2,926,000 after acquiring an additional 593 shares during the period. Hedge funds and other institutional investors own 83.38% of the company’s stock.

WestRock Company Profile

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.