Westrock (WRK) Shares Gap Down to $35.15

Shares of Westrock Co (NYSE:WRK) gapped down before the market opened on Tuesday . The stock had previously closed at $34.50, but opened at $35.15. Westrock shares last traded at $36.00, with a volume of 49264 shares.

A number of analysts have recently commented on WRK shares. UBS Group started coverage on Westrock in a research report on Wednesday, May 15th. They set a “buy” rating and a $47.00 target price on the stock. KeyCorp reissued a “hold” rating on shares of Westrock in a research report on Wednesday, May 1st. Finally, Deutsche Bank cut shares of Westrock from a “buy” rating to a “hold” rating and decreased their price objective for the company from $51.00 to $42.00 in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Westrock has a consensus rating of “Hold” and an average price target of $49.56.

The company has a market cap of $9.42 billion, a PE ratio of 8.79, a PEG ratio of 2.05 and a beta of 1.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.77 and a current ratio of 1.29.

Westrock (NYSE:WRK) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.17. The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.67 billion. Westrock had a net margin of 4.89% and a return on equity of 9.03%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.83 EPS. Research analysts forecast that Westrock Co will post 3.95 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 10th were paid a $0.455 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 5.07%. Westrock’s dividend payout ratio (DPR) is presently 44.50%.

In related news, Director Currey M. Russell bought 5,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were acquired at an average price of $37.50 per share, for a total transaction of $187,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lowe Brockenbrough & Co. Inc. raised its stake in Westrock by 5.2% during the first quarter. Lowe Brockenbrough & Co. Inc. now owns 28,448 shares of the basic materials company’s stock worth $1,091,000 after acquiring an additional 1,408 shares during the period. Cerebellum GP LLC bought a new position in Westrock in the 1st quarter worth about $338,000. Cleararc Capital Inc. bought a new position in Westrock in the 1st quarter worth about $238,000. Horizon Investments LLC bought a new position in Westrock in the 1st quarter worth about $2,804,000. Finally, Redwood Investment Management LLC bought a new position in Westrock in the 1st quarter worth about $275,000. Hedge funds and other institutional investors own 85.26% of the company’s stock.

WARNING: “Westrock (WRK) Shares Gap Down to $35.15” was posted by Markets Daily and is the property of of Markets Daily. If you are reading this report on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.themarketsdaily.com/2019/05/21/westrock-wrk-shares-gap-down-to-35-15.html.

Westrock Company Profile (NYSE:WRK)

WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.

See Also: Discount Rate

Receive News & Ratings for Westrock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westrock and related companies with MarketBeat.com's FREE daily email newsletter.