WestRock (NYSE:WRK) Receives New Coverage from Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of WestRock (NYSE:WRK) in a research note issued to 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. Wells Fargo & Company upped their price target on shares of WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Truist Financial increased their target price on shares of WestRock from $51.00 to $57.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Finally, Argus boosted their price target on WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday, May 6th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.75.

WestRock Stock Up 3.5 %

WRK opened at $51.51 on Wednesday. WestRock has a 12 month low of $27.86 and a 12 month high of $54.83. The company has a current ratio of 1.34, a quick ratio of 0.85 and a debt-to-equity ratio of 0.77. The business’s 50-day moving average price is $51.56 and its 200-day moving average price is $47.80. The company has a market cap of $13.24 billion, a P/E ratio of 43.29, a P/E/G ratio of 2.13 and a beta of 1.05.

WestRock (NYSE:WRK) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.39 EPS 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 analysts’ expectations of $4.75 billion. WestRock had a return on equity of 5.85% and a net margin of 1.57%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. On average, equities analysts expect that WestRock will post 2.16 EPS for the current year.

Insider Activity

In related news, insider John L. O’neal sold 6,965 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.47, for a total value of $358,488.55. Following the completion of the transaction, the insider now directly owns 60,491 shares in the company, valued at approximately $3,113,471.77. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider John L. O’neal sold 6,965 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.47, for a total transaction of $358,488.55. Following the sale, the insider now directly owns 60,491 shares of the company’s stock, valued at $3,113,471.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Denise R. Singleton sold 9,700 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 74,946 shares in the company, valued at $3,856,721.16. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On WestRock

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of WestRock in the fourth quarter worth about $198,063,000. KRYGER CAPITAL Ltd bought a new stake in WestRock during the fourth quarter worth approximately $55,228,000. Segantii Capital Management Ltd boosted its holdings in shares of WestRock by 75.2% in the 4th quarter. Segantii Capital Management Ltd now owns 2,907,561 shares of the basic materials company’s stock worth $120,722,000 after purchasing an additional 1,247,561 shares during the period. Nordea Investment Management AB lifted its position in WestRock by 22.4% in the first quarter. Nordea Investment Management AB now owns 5,301,068 shares of the basic materials company’s stock worth $260,176,000 after buying an additional 970,199 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its stake in shares of WestRock by 681.3% in the fourth quarter. Picton Mahoney Asset Management now owns 625,000 shares of the basic materials company’s stock valued at $25,949,000 after acquiring an additional 545,000 shares during the period. 83.38% of the stock is owned by institutional investors.

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.