The stock of Westlake Chemical Corporation (NYSE:WLK) is a huge mover today! About 531,053 shares traded hands. Westlake Chemical Corporation (NYSE:WLK) has risen 17.79% since March 3, 2016 and is uptrending. It has outperformed by 9.44% the S&P500.
The move comes after 5 months positive chart setup for the $7.29B company. It was reported on Oct, 6 by Barchart.com. We have $92.85 PT which if reached, will make NYSE:WLK worth $5.03 billion more.
Analysts await Westlake Chemical Corporation (NYSE:WLK) to report earnings on November, 1. They expect $1.01 EPS, down 19.84% or $0.25 from last year’s $1.26 per share. WLK’s profit will be $134.02 million for 13.60 P/E if the $1.01 EPS becomes a reality. After $1.21 actual EPS reported by Westlake Chemical Corporation for the previous quarter, Wall Street now forecasts -16.53% negative EPS growth.
Westlake Chemical Corporation (NYSE:WLK) Ratings Coverage
Out of 8 analysts covering Westlake Chemical (NYSE:WLK), 6 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 75% are positive. Westlake Chemical has been the topic of 18 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of Westlake Chemical Corporation (NYSE:WLK) has “Overweight” rating given on Monday, May 16 by JP Morgan. The firm has “Overweight” rating given on Tuesday, August 16 by JP Morgan. The firm has “Buy” rating given on Wednesday, June 15 by Suntrust Robinson. Deutsche Bank maintained the shares of WLK in a report on Thursday, September 17 with “Hold” rating. The rating was maintained by Cowen & Co with “Outperform” on Thursday, September 1. The stock has “Outperform” rating given by Cowen & Co on Friday, January 8. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, August 5 report. The company was maintained on Monday, June 13 by Cowen & Co. The firm has “Sector Perform” rating given on Monday, June 13 by RBC Capital Markets. The stock of Westlake Chemical Corporation (NYSE:WLK) earned “Sector Perform” rating by RBC Capital Markets on Thursday, November 5.
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 decreased to 0.65 in 2016 Q2. Its down 0.66, from 1.31 in 2016Q1. The ratio turned negative, 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.
Parkwood Limited Liability has 15,215 shares for 0.11% of their US portfolio. Bluecrest Cap Ltd accumulated 8,662 shares or 0.02% of the stock. Cue Financial Grp accumulated 15,825 shares or 0.58% of the stock. Ubs Oconnor Ltd Limited Liability Company accumulated 562,693 shares or 0% of the stock. Teachers Advisors accumulated 0% or 35,531 shares. First Quadrant Limited Partnership Ca holds 0.23% of its portfolio in Westlake Chemical Corporation (NYSE:WLK) for 238,887 shares. Moore Cap L P reported 434,815 shares or 0.73% of all its holdings. The Australia-based Commonwealth Fincl Bank Of Aus has invested 0% in Westlake Chemical Corporation (NYSE:WLK). First Allied Advisory has 22,581 shares for 0.05% of their US portfolio. The California-based Schwab Charles Invest Mngmt has invested 0.01% in Westlake Chemical Corporation (NYSE:WLK). Jacobs Levy Equity Incorporated last reported 0.03% of its portfolio in the stock. State Of Wisconsin Investment Board holds 25,240 shares or 0% of its portfolio. Metropolitan Life Insur Commerce Ny holds 0% of its portfolio in Westlake Chemical Corporation (NYSE:WLK) for 1,121 shares. Citigroup holds 265,636 shares or 0.01% of its portfolio. Moreover, Old Mutual (Uk) Limited has 0.16% invested in Westlake Chemical Corporation (NYSE:WLK) for 200,245 shares.
Insider Transactions: Since August 23, 2016, the stock had 0 insider buys, and 1 sale for $1.60 million net activity. On Tuesday, August 23 Mangieri George J sold $1.60 million worth of the stock or 30,714 shares.
More notable recent Westlake Chemical Corporation (NYSE:WLK) news were published by: Bizjournals.com which released: “Westlake Chemical sets closing date for Axiall acquisition” on August 18, 2016, also Wsj.com with their article: “Westlake Chemical to Buy Axiall, Winning Takeover Battle” published on June 10, 2016, Businesswire.com published: “Westlake Chemical Corporation Announces Second Quarter 2016 Earnings” on July 28, 2016. More interesting news about Westlake Chemical Corporation (NYSE:WLK) were released by: Prnewswire.com and their article: “Westlake Chemical Corporation Announces First Quarter 2016 Earnings” published on May 03, 2016 as well as Prnewswire.com‘s news article titled: “Westlake Chemical Corporation Announces Fourth Quarter and Full Year 2015 Earnings” with publication date: February 23, 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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