Alembic Global analyst Hassan Ahmed maintained a Buy rating on Westlake Chemical (WLK – Research Report) today and set a price target of $138.00. The company’s shares opened today at $93.25.
Ahmed covers the Basic Materials sector, focusing on stocks such as Trinseo, Olin, and Westlake Chemical. According to TipRanks, Ahmed has an average return of 4.8% and a 44.94% success rate on recommended stocks.
Westlake Chemical has an analyst consensus of Moderate Buy, with a price target consensus of $106.33.
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Based on Westlake Chemical’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.48 billion and a net profit of $858 million. In comparison, last year the company earned a revenue of $2.86 billion and had a net profit of $522 million
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WLK in relation to earlier this year.
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.
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